Capital Investment Advisory Services LLC Takes Position in PNC Financial Services Group Inc (PNC)

Capital Investment Advisory Services LLC acquired a new stake in PNC Financial Services Group Inc (NYSE:PNC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 690 shares of the financial services provider’s stock, valued at approximately $81,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PNC. Atria Investments LLC grew its stake in PNC Financial Services Group by 27.6% during the 3rd quarter. Atria Investments LLC now owns 5,832 shares of the financial services provider’s stock worth $794,000 after buying an additional 1,263 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its stake in PNC Financial Services Group by 1.0% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 82,984 shares of the financial services provider’s stock worth $11,301,000 after buying an additional 799 shares during the last quarter. First Hawaiian Bank acquired a new stake in PNC Financial Services Group during the 3rd quarter worth approximately $457,000. Sitrin Capital Management LLC lifted its position in PNC Financial Services Group by 2.2% during the 3rd quarter. Sitrin Capital Management LLC now owns 31,290 shares of the financial services provider’s stock worth $4,261,000 after acquiring an additional 676 shares during the period. Finally, Aperio Group LLC lifted its position in PNC Financial Services Group by 0.5% during the 3rd quarter. Aperio Group LLC now owns 330,285 shares of the financial services provider’s stock worth $44,982,000 after acquiring an additional 1,595 shares during the period. 80.61% of the stock is currently owned by institutional investors and hedge funds.

PNC opened at $121.48 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $56.82 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.43 and a beta of 1.04. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $163.59.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $2.75 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.04). The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.37 billion. PNC Financial Services Group had a net margin of 26.51% and a return on equity of 11.23%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. As a group, research analysts forecast that PNC Financial Services Group Inc will post 11.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 5th. Stockholders of record on Thursday, January 17th were issued a $0.95 dividend. The ex-dividend date of this dividend was Wednesday, January 16th. This represents a $3.80 annualized dividend and a dividend yield of 3.13%. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.

PNC Financial Services Group announced that its board has approved a stock repurchase plan on Thursday, November 8th that allows the company to repurchase $900.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of analysts have weighed in on the company. Barclays decreased their price objective on PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. BMO Capital Markets cut PNC Financial Services Group from an “outperform” rating to a “market perform” rating and set a $139.00 price objective for the company. in a research report on Monday, November 19th. They noted that the move was a valuation call. ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Deutsche Bank cut PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 price objective for the company. in a research report on Friday, January 25th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $146.00 price objective on shares of PNC Financial Services Group in a research report on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $145.45.

In other news, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $124.82, for a total value of $624,100.00. Following the completion of the sale, the insider now directly owns 53,239 shares of the company’s stock, valued at approximately $6,645,291.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Q. Reilly sold 12,361 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $122.50, for a total value of $1,514,222.50. Following the completion of the sale, the executive vice president now directly owns 118,671 shares of the company’s stock, valued at $14,537,197.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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