Ledyard National Bank Has $395,000 Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ledyard National Bank trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,550 shares of the financial services provider’s stock after selling 89 shares during the period. Ledyard National Bank’s holdings in The PNC Financial Services Group were worth $395,000 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 company. FMR LLC grew its position 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 acquiring an additional 893,808 shares during the period. International Assets Investment Management LLC grew its holdings in shares of The PNC Financial Services Group by 15,539.2% during the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after purchasing an additional 639,903 shares during the last quarter. Invesco Ltd. grew its holdings in shares of The PNC Financial Services Group by 10.4% during the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after purchasing an additional 484,475 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of The PNC Financial Services Group by 44.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock worth $189,297,000 after purchasing an additional 477,367 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 601.1% during the fourth quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock worth $60,885,000 after purchasing an additional 337,105 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNC has been the topic of several research analyst reports. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Bank of America increased their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, Evercore ISI cut their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Down 1.0 %

PNC stock traded down $1.53 during mid-day trading on Tuesday, reaching $154.25. The company had a trading volume of 313,263 shares, compared to its average volume of 2,081,374. 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 stock has a 50 day simple moving average of $152.90 and a two-hundred day simple moving average of $143.75. The company has a market capitalization of $61.36 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.76 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued 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 company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.98 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.02%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

About The PNC Financial Services Group

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.