City Holding Co. Acquires 132 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

City Holding Co. grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,132 shares of the financial services provider’s stock after buying an additional 132 shares during the quarter. City Holding Co.’s holdings in The PNC Financial Services Group were worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. XTX Topco Ltd purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth about $512,000. Intech Investment Management LLC boosted its stake in The PNC Financial Services Group by 65.9% in the second quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock worth $467,000 after buying an additional 1,193 shares in the last quarter. AE Wealth Management LLC grew its position in The PNC Financial Services Group by 38.4% during the second quarter. AE Wealth Management LLC now owns 10,742 shares of the financial services provider’s stock valued at $1,670,000 after acquiring an additional 2,983 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of The PNC Financial Services Group by 4.6% during the second quarter. Pacer Advisors Inc. now owns 28,517 shares of the financial services provider’s stock worth $4,434,000 after acquiring an additional 1,252 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of The PNC Financial Services Group by 7.5% in the 2nd quarter. Sei Investments Co. now owns 372,791 shares of the financial services provider’s stock worth $57,961,000 after acquiring an additional 25,868 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

PNC opened at $198.36 on Tuesday. The company’s 50-day simple moving average is $201.40 and its two-hundred day simple moving average is $187.43. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The stock has a market capitalization of $78.71 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.16 EPS. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of analyst reports. Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the transaction, the chief executive officer now directly owns 543,523 shares in the company, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,171 shares of company stock valued at $5,768,325. 0.42% of the stock is owned by insiders.

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.