Cutler Investment Counsel LLC Has $7.62 Million Stake in PNC Financial Services Group Inc (PNC)

Cutler Investment Counsel LLC grew its stake in PNC Financial Services Group Inc (NYSE:PNC) by 2,145.4% during the first quarter, HoldingsChannel.com reports. The fund owned 62,153 shares of the financial services provider’s stock after acquiring an additional 59,385 shares during the quarter. Cutler Investment Counsel LLC’s holdings in PNC Financial Services Group were worth $7,624,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PNC. BlackRock Inc. boosted its position in shares of PNC Financial Services Group by 1.3% in the 4th quarter. BlackRock Inc. now owns 27,642,474 shares of the financial services provider’s stock worth $3,231,680,000 after purchasing an additional 341,904 shares in the last quarter. FMR LLC boosted its position in shares of PNC Financial Services Group by 32.7% in the 4th quarter. FMR LLC now owns 10,859,988 shares of the financial services provider’s stock worth $1,269,641,000 after purchasing an additional 2,677,895 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of PNC Financial Services Group by 11,450.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,000,055 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 5,948,109 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PNC Financial Services Group by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock worth $647,356,000 after purchasing an additional 323,714 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of PNC Financial Services Group by 1.4% in the 4th quarter. Northern Trust Corp now owns 5,341,413 shares of the financial services provider’s stock worth $624,465,000 after purchasing an additional 71,882 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

A number of research firms have recently weighed in on PNC. ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Zacks Investment Research raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. UBS Group set a $133.00 price objective on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Morgan Stanley lifted their price target on PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Barclays lifted their price target on PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $143.63.

Shares of PNC opened at $131.10 on Friday. PNC Financial Services Group Inc has a one year low of $108.45 and a one year high of $152.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23. The stock has a market cap of $58.09 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.50 and a beta of 1.09.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. As a group, equities research analysts expect that PNC Financial Services Group Inc will post 11.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a yield of 2.90%. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.

In related news, Director Martin Pfinsgraff acquired 500 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was acquired at an average price of $125.69 per share, with a total value of $62,845.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph E. Rockey sold 6,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the transaction, the insider now directly owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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