The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,572 shares of the financial services provider’s stock after buying an additional 332 shares during the quarter. Sage Mountain Advisors LLC’s holdings in The PNC Financial Services Group were worth $398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rockline Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $1,825,000. KPP Advisory Services LLC acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at about $323,000. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 144.2% in the 3rd 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 last quarter. Trust Point Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent analyst reports. UBS Group lifted their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Bank of America lifted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Up 2.4 %

Shares of NYSE:PNC opened at $155.93 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The stock has a market capitalization of $62.03 billion, a P/E ratio of 13.09, a PEG ratio of 1.72 and a beta of 1.18. The stock has a 50-day simple moving average of $152.03 and a 200-day simple moving average of $142.51.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.98 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a 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 presently 52.06%.

About The PNC Financial Services Group

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.