Grove Bank & Trust Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Grove Bank & Trust lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,931 shares of the financial services provider’s stock after buying an additional 373 shares during the quarter. Grove Bank & Trust’s holdings in The PNC Financial Services Group were worth $758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. International Assets Investment Management LLC increased its position in shares of The PNC Financial Services Group by 12,940.0% during the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after acquiring an additional 532,871 shares during the period. Assenagon Asset Management S.A. increased its holdings in The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after purchasing an additional 433,178 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after purchasing an additional 276,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after buying an additional 274,186 shares during the period. Finally, Marshall Wace LLP grew its position in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after buying an additional 254,356 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped 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 research note on Monday, January 6th. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Compass Point lifted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Up 0.9 %

PNC stock opened at $198.36 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day simple moving average is $201.40 and its 200-day simple moving average is $187.23. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The company has a market capitalization of $78.71 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.16 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,030 shares of company stock worth $5,928,202. Corporate insiders own 0.42% of the company’s stock.

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.