Longfellow Investment Management Co. LLC Invests $1.19 Million in The PNC Financial Services Group, Inc $PNC

Longfellow Investment Management Co. LLC purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,817 shares of the financial services provider’s stock, valued at approximately $1,186,000.

A number of other large investors have also recently modified their holdings of the company. Monetary Solutions Ltd purchased a new position in The PNC Financial Services Group during the 4th quarter worth $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $29,000. Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth $31,000. Finally, Wilkerson Advisory Group LLC increased its stake in shares of The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $256.91 on Monday. The company has a market capitalization of $102.49 billion, a PE ratio of 14.14, a P/E/G ratio of 1.02 and a beta of 0.91. The company has a 50-day simple moving average of $246.72 and a two-hundred day simple moving average of $228.51. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $258.13. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the business earned $3.85 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.1%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group’s payout ratio is 44.03%.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,654 shares of company stock valued at $11,552,661 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PNC. Oppenheimer upped their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Argus raised their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Barclays boosted their price target on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Stephens increased their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $265.73.

The PNC Financial Services Group Company 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.