1,514 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Davis R M Inc.

Davis R M Inc. purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,514 shares of the financial services provider’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Private Advisor Group LLC grew its stake in The PNC Financial Services Group by 13.9% in the 3rd quarter. Private Advisor Group LLC now owns 57,866 shares of the financial services provider’s stock worth $7,104,000 after buying an additional 7,082 shares in the last quarter. Main Street Financial Solutions LLC raised its holdings in The PNC Financial Services Group by 5.1% in the 3rd quarter. Main Street Financial Solutions LLC now owns 2,332 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 114 shares in the last quarter. Syon Capital LLC bought a new position in shares of The PNC Financial Services Group in the 3rd quarter worth about $205,000. NBC Securities Inc. bought a new position in shares of The PNC Financial Services Group in the 3rd quarter worth about $911,000. Finally, Pinnacle Financial Partners Inc grew its position in The PNC Financial Services Group by 13.0% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 18,419 shares of the financial services provider’s stock valued at $2,261,000 after purchasing an additional 2,122 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Evercore ISI decreased their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Bank of America lifted their price objective 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. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $157.02.

The PNC Financial Services Group Trading Down 1.2 %

Shares of NYSE PNC traded down $1.88 during mid-day trading on Thursday, reaching $154.62. 153,536 shares of the company’s stock were exchanged, compared to its average volume of 1,942,189. The firm has a market capitalization of $61.52 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 3.06 and a beta of 1.16. 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, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company’s 50-day moving average is $155.76 and its 200-day moving average is $148.59.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations 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 revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.01%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 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.