Tiller Private Wealth Inc. Invests $393,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Tiller Private Wealth Inc. acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,537 shares of the financial services provider’s stock, valued at approximately $393,000. The PNC Financial Services Group comprises approximately 0.2% of Tiller Private Wealth Inc.’s holdings, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steph & Co. boosted its stake in The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 67 shares during the period. 1832 Asset Management L.P. boosted its stake in The PNC Financial Services Group by 33.5% in the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 67 shares during the period. Bangor Savings Bank raised its holdings in The PNC Financial Services Group by 1.2% during the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 69 shares in the last quarter. Oakworth Capital Inc. raised its holdings in The PNC Financial Services Group by 11.7% during the fourth quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 75 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after buying an additional 79 shares during the period. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PNC shares. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Evercore ISI cut their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group increased 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 research note on Monday, April 1st. Finally, Jefferies Financial Group cut their target price 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 note on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $0.64 during trading hours on Thursday, hitting $147.89. 1,352,888 shares of the stock were exchanged, compared to its average volume of 2,139,530. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84. The company’s 50 day moving average is $151.80 and its 200 day moving average is $141.68. The firm has a market capitalization of $58.83 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm earned $3.98 EPS. The business’s revenue was down 8.2% on a year-over-year basis. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

The PNC Financial Services Group 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.