Patrick M Sweeney & Associates Inc. Acquires Shares of 2,294 The PNC Financial Services Group, Inc. (NYSE:PNC)

Patrick M Sweeney & Associates Inc. bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,294 shares of the financial services provider’s stock, valued at approximately $355,000.

Other hedge funds have also recently bought and sold shares of the company. Rockline Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $1,825,000. KPP Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $323,000. AQR Capital Management LLC lifted its holdings in shares of The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after acquiring an additional 67,490 shares during the period. Trust Point Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter worth approximately $295,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of 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. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. 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 note on Thursday, March 28th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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, May 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $157.02.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were 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 of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.7 %

Shares of PNC traded up $1.06 during trading on Wednesday, reaching $157.21. The company’s stock had a trading volume of 1,254,443 shares, compared to its average volume of 2,038,685. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market cap of $62.54 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a fifty day moving average of $154.02 and a two-hundred day moving average of $145.39.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $3.98 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio 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.