5,513 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Bought by Bare Financial Services Inc

Bare Financial Services Inc acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 5,513 shares of the financial services provider’s stock, valued at approximately $854,000. The PNC Financial Services Group accounts for about 1.7% of Bare Financial Services Inc’s portfolio, making the stock its 14th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Rockline Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $1,825,000. KPP Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter worth $323,000. AQR Capital Management LLC grew its position in shares of The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after purchasing an additional 67,490 shares during the period. Trust Point Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $295,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PNC shares. Jefferies Financial Group lowered their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $157.02.

The PNC Financial Services Group Stock Up 1.1 %

Shares of NYSE PNC traded up $1.74 on Thursday, hitting $155.72. The company had a trading volume of 1,172,875 shares, compared to its average volume of 2,079,596. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The business has a 50 day moving average of $153.18 and a two-hundred day moving average of $144.07. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $61.95 billion, a P/E ratio of 12.93, a PEG ratio of 1.73 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.