Harvey Investment Co. LLC Sells 1,000 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Harvey Investment Co. LLC decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,942 shares of the financial services provider’s stock after selling 1,000 shares during the period. Harvey Investment Co. LLC’s holdings in The PNC Financial Services Group were worth $7,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Loomis Sayles & Co. L P grew its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. grew its stake in The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after buying an additional 55 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.8 %

Shares of NYSE:PNC opened at $202.37 on Friday. The company has a market cap of $80.30 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.63 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The firm has a fifty day moving average price of $198.68 and a two-hundred day moving average price of $190.28. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.16 EPS. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.16%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock valued at $6,037,230 in the last quarter. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PNC. Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $205.00.

About The PNC Financial Services Group

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.