3,530 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Polymer Capital Management US LLC

Polymer Capital Management US LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,530 shares of the financial services provider’s stock, valued at approximately $681,000.

Other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $25,000. Richardson Financial Services Inc. boosted its stake in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $152.85 on Monday. The stock has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company’s fifty day moving average is $184.93 and its two-hundred day moving average is $191.80.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business posted $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $198.00, for a total transaction of $245,916.00. Following the transaction, the chief executive officer now directly owns 525,071 shares of the company’s stock, valued at $103,964,058. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,320,739. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on PNC shares. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Citigroup lowered their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $205.18.

The PNC Financial Services Group Company Profile

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.