The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Syon Capital LLC

Syon Capital LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,948 shares of the financial services provider’s stock after acquiring an additional 280 shares during the quarter. Syon Capital LLC’s holdings in The PNC Financial Services Group were worth $302,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth $25,000. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent analyst reports. Morgan Stanley raised their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. 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. Evercore ISI reduced their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. 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. Finally, Jefferies Financial Group reduced 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $156.63.

The PNC Financial Services Group Trading Down 0.1 %

The PNC Financial Services Group stock opened at $156.11 on Friday. 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 business’s 50-day simple moving average is $152.76 and its 200-day simple moving average is $143.36. The firm has a market capitalization of $62.10 billion, a PE ratio of 13.11, a PEG ratio of 1.76 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business 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 firm’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 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders 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 yield of 3.97%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group 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 sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

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.