Longfellow Investment Management Co. LLC Has $847,000 Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Longfellow Investment Management Co. LLC increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 30.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,817 shares of the financial services provider’s stock after buying an additional 1,125 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in The PNC Financial Services Group were worth $847,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PNC. Cornerstone Planning Group LLC grew its position in The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 65 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $35,000. REAP Financial Group LLC increased its stake in shares of The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 59 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $41,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 554,879 shares of the company’s stock, valued at $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup raised their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an “underweight” rating in a report on Thursday, July 17th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada reduced their price target on 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. Finally, TD Cowen began coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.17.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $189.58 on Monday. The company has a market cap of $74.66 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The business has a 50 day moving average price of $187.37 and a 200-day moving average price of $179.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.39 earnings per share. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were issued a $1.70 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.51%.

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.