Norden Group LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Norden Group LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,723 shares of the financial services provider’s stock, valued at approximately $267,000.

A number of other hedge funds also recently added to or reduced their stakes in PNC. FMR LLC raised its holdings in The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after acquiring an additional 893,808 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after acquiring an additional 639,903 shares in the last quarter. Invesco Ltd. raised its position in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after acquiring an additional 484,475 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in The PNC Financial Services Group by 44.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after purchasing an additional 477,367 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its holdings in The PNC Financial Services Group by 601.1% during the fourth quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock worth $60,885,000 after purchasing an additional 337,105 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of 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. Jefferies Financial Group lowered their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Bank of America increased their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, UBS Group increased their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $157.02.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $153.94 on Thursday. The company has a market capitalization of $61.24 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.73 and a beta of 1.16. The stock has a fifty day moving average of $153.18 and a two-hundred day moving average of $144.07. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. 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 (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the firm posted $3.98 EPS. The company’s revenue was down 8.2% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

The PNC Financial Services Group Company Profile

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.