Cambridge Trust Co. Purchases 10,704 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cambridge Trust Co. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,944 shares of the financial services provider’s stock after purchasing an additional 10,704 shares during the period. Cambridge Trust Co.’s holdings in The PNC Financial Services Group were worth $13,154,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PNC. Norges Bank bought a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $735,469,000. Moneta Group Investment Advisors LLC increased its stake in The PNC Financial Services Group by 122,771.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after purchasing an additional 2,538,916 shares in the last quarter. Morgan Stanley increased its stake in The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after purchasing an additional 1,045,055 shares in the last quarter. FMR LLC increased its stake in The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of The PNC Financial Services Group by 7.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after acquiring an additional 860,489 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PNC shares. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Jefferies Financial Group reduced their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $156.63.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

NYSE:PNC traded down $0.13 during mid-day trading on Thursday, hitting $147.12. 556,423 shares of the company’s stock were exchanged, compared to its average volume of 2,134,135. The company has a 50 day simple moving average of $151.80 and a 200-day simple moving average of $141.68. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The firm has a market capitalization of $58.53 billion, a P/E ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $3.98 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

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.