The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 22.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,964 shares of the financial services provider’s stock after acquiring an additional 1,110 shares during the period. Ballentine Partners LLC’s holdings in The PNC Financial Services Group were worth $964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in shares of The PNC Financial Services Group by 10.5% in the 3rd quarter. Acadian Asset Management LLC now owns 23,845 shares of the financial services provider’s stock valued at $2,923,000 after buying an additional 2,272 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of The PNC Financial Services Group by 8.4% in the 3rd quarter. LPL Financial LLC now owns 543,142 shares of the financial services provider’s stock valued at $66,682,000 after buying an additional 42,310 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of The PNC Financial Services Group by 103.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 11,666 shares of the financial services provider’s stock valued at $1,432,000 after buying an additional 5,937 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of The PNC Financial Services Group by 7.8% in the 3rd quarter. Personal CFO Solutions LLC now owns 3,462 shares of the financial services provider’s stock valued at $425,000 after buying an additional 250 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of The PNC Financial Services Group by 5.1% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,239 shares of the financial services provider’s stock valued at $1,380,000 after buying an additional 550 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Jefferies Financial Group reduced their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $157.83.

Check Out Our Latest Analysis on PNC

The PNC Financial Services Group Price Performance

Shares of PNC traded up $0.02 during trading hours on Friday, reaching $153.20. The company had a trading volume of 2,598,345 shares, compared to its average volume of 1,437,402. The firm has a 50 day simple moving average of $154.73 and a 200-day simple moving average of $152.55. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $60.96 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 2.18 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 EPS. Research analysts expect that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

The PNC Financial Services Group Company Profile

(Free Report)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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