Fort Pitt Capital Group LLC boosted its position in PNC Financial Services Group Inc (NYSE:PNC) by 11.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 366,585 shares of the financial services provider’s stock after acquiring an additional 36,325 shares during the period. PNC Financial Services Group comprises approximately 3.3% of Fort Pitt Capital Group LLC’s holdings, making the stock its 6th biggest holding. Fort Pitt Capital Group LLC’s holdings in PNC Financial Services Group were worth $42,857,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IMS Capital Management purchased a new stake in PNC Financial Services Group in the 3rd quarter worth approximately $28,000. Transamerica Financial Advisors Inc. purchased a new stake in PNC Financial Services Group in the 4th quarter worth approximately $36,000. Ipswich Investment Management Co. Inc. purchased a new stake in PNC Financial Services Group in the 4th quarter worth approximately $43,000. San Francisco Sentry Investment Group CA grew its stake in PNC Financial Services Group by 35.9% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 394 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 104 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in PNC Financial Services Group by 31.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 409 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 97 shares during the period. 80.61% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PNC opened at $124.15 on Friday. PNC Financial Services Group Inc has a 52-week low of $108.45 and a 52-week high of $163.59. The firm has a market cap of $57.29 billion, a PE ratio of 11.59, a P/E/G ratio of 1.44 and a beta of 1.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.88 and a quick ratio of 0.88.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.04). PNC Financial Services Group had a return on equity of 11.23% and a net margin of 26.51%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period last year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that PNC Financial Services Group Inc will post 11.32 EPS for the current fiscal year.

PNC Financial Services Group announced that its Board of Directors has authorized a share repurchase program on Thursday, November 8th that allows the company to buyback $900.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 5th. Investors of record on Thursday, January 17th were given a dividend of $0.95 per share. The ex-dividend date was Wednesday, January 16th. This represents a $3.80 dividend on an annualized basis and a yield of 3.06%. PNC Financial Services Group’s dividend payout ratio (DPR) is 35.48%.

In related news, insider Michael J. Hannon sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $124.82, for a total transaction of $624,100.00. Following the completion of the sale, the insider now directly owns 53,239 shares of the company’s stock, valued at approximately $6,645,291.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Q. Reilly sold 12,361 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the sale, the executive vice president now directly owns 118,671 shares of the company’s stock, valued at $14,537,197.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Several analysts have commented on PNC shares. Royal Bank of Canada lowered their target price on shares of PNC Financial Services Group to $150.00 and set an “average” rating for the company in a research note on Thursday, January 17th. Bank of America cut shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Thursday, January 10th. Morgan Stanley lowered their price objective on shares of PNC Financial Services Group from $147.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 8th. Goldman Sachs Group cut shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $154.00 to $144.00 in a research note on Monday, January 7th. Finally, Barclays lowered their price objective on shares of PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $145.45.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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