Ground Swell Capital LLC Makes New $224,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ground Swell Capital LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,164 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of The PNC Financial Services Group by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 32,538 shares of the financial services provider’s stock worth $6,283,000 after purchasing an additional 1,930 shares during the period. ORG Partners LLC lifted its holdings in The PNC Financial Services Group by 495.4% during the fourth quarter. ORG Partners LLC now owns 5,132 shares of the financial services provider’s stock worth $990,000 after buying an additional 4,270 shares during the period. Graypoint LLC boosted its position in The PNC Financial Services Group by 7.7% during the 4th quarter. Graypoint LLC now owns 3,032 shares of the financial services provider’s stock valued at $585,000 after acquiring an additional 218 shares in the last quarter. Czech National Bank increased its holdings in shares of The PNC Financial Services Group by 6.2% in the 4th quarter. Czech National Bank now owns 86,031 shares of the financial services provider’s stock valued at $16,591,000 after acquiring an additional 5,057 shares during the period. Finally, Fiduciary Alliance LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $785,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their target price for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank of Canada cut their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Barclays decreased their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Finally, Citigroup decreased their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $200.88.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $163.16, for a total transaction of $202,644.72. Following the completion of the transaction, the chief executive officer now owns 558,605 shares of the company’s stock, valued at approximately $91,141,991.80. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,662 shares of company stock valued at $2,322,006 over the last ninety days. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $166.44 on Friday. The firm has a 50 day moving average of $164.74 and a two-hundred day moving average of $186.58. The firm has a market capitalization of $65.84 billion, a PE ratio of 12.10, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.85%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

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.