Essex Financial Services Inc. Purchases 277 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Essex Financial Services Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,333 shares of the financial services provider’s stock after acquiring an additional 277 shares during the quarter. Essex Financial Services Inc.’s holdings in The PNC Financial Services Group were worth $1,445,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at $25,000. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

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

The PNC Financial Services Group Trading Up 0.4 %

Shares of NYSE:PNC opened at $153.94 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50-day moving average is $153.18 and its 200 day moving average is $144.07. The firm has a market capitalization of $61.24 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.73 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 EPS. On average, research analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.03%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. Evercore ISI decreased their target price 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. Jefferies Financial Group reduced their price target 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. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $157.02.

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.