The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 20.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,127 shares of the financial services provider’s stock after buying an additional 3,968 shares during the period. Jacobi Capital Management LLC’s holdings in The PNC Financial Services Group were worth $3,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, Core Wealth Advisors Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $31,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 2.0 %

PNC stock traded down $3.09 on Tuesday, hitting $149.60. 657,950 shares of the company were exchanged, compared to its average volume of 1,922,575. The stock has a market capitalization of $59.53 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 3.01 and a beta of 1.16. The business’s fifty day moving average is $155.48 and its two-hundred day moving average is $151.41. 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 debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Transactions at The PNC Financial Services Group

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 shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Bank of America raised their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Evercore ISI dropped their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group lowered their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $157.83.

Check Out Our Latest Report on The PNC Financial Services Group

The PNC Financial Services Group Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNCFree Report).

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.