Choreo LLC Takes $1.34 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Choreo LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,660 shares of the financial services provider’s stock, valued at approximately $1,341,000.

Several other institutional investors also recently bought and sold shares of PNC. Steph & Co. raised its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the last quarter. Bangor Savings Bank raised its holdings in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after buying an additional 69 shares during the last quarter. Oakworth Capital Inc. raised its holdings in shares of The PNC Financial Services Group by 11.7% in the fourth quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after buying an additional 75 shares during the last quarter. Caprock Group LLC raised its holdings in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 79 shares during the last quarter. Finally, Legacy Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 0.8% in the third quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after buying an additional 84 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $153.26 on Wednesday. The company’s 50-day moving average is $153.03 and its two-hundred day moving average is $144.00. 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 PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The firm has a market capitalization of $60.97 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Jefferies Financial Group decreased 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 research report on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Bank of America upped their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $156.63.

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.