The PNC Financial Services Group, Inc $PNC Shares Bought by Hardy Reed LLC

Hardy Reed LLC raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 82.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,660 shares of the financial services provider’s stock after purchasing an additional 5,263 shares during the period. Hardy Reed LLC’s holdings in The PNC Financial Services Group were worth $2,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of The PNC Financial Services Group by 12.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock valued at $11,621,000 after buying an additional 6,572 shares during the last quarter. US Bancorp DE raised its holdings in shares of The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after buying an additional 34,009 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of The PNC Financial Services Group by 1.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after buying an additional 22,325 shares during the last quarter. Savant Capital LLC raised its holdings in shares of The PNC Financial Services Group by 8.7% in the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock valued at $17,672,000 after buying an additional 7,064 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of The PNC Financial Services Group by 2.5% in the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock valued at $215,113,000 after buying an additional 26,305 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.2%

NYSE PNC opened at $213.24 on Wednesday. The stock has a market capitalization of $85.63 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.89 and a beta of 0.94. The PNC Financial Services Group, Inc has a 52-week low of $169.32 and a 52-week high of $243.94. The firm has a 50-day moving average price of $213.63 and a 200 day moving average price of $211.19. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.51 earnings per share. Equities research analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America upped their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Barclays upped their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Oppenheimer increased their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.11.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.