Prospector Partners LLC Has $11.64 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Prospector Partners LLC lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 146.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,150 shares of the financial services provider’s stock after acquiring an additional 44,685 shares during the period. The PNC Financial Services Group accounts for about 1.5% of Prospector Partners LLC’s portfolio, making the stock its 29th largest position. Prospector Partners LLC’s holdings in The PNC Financial Services Group were worth $11,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $28,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $157.02.

The PNC Financial Services Group Price Performance

PNC stock traded down $3.54 during trading on Thursday, hitting $152.96. The stock had a trading volume of 625,433 shares, compared to its average volume of 1,947,012. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company’s 50-day moving average price is $155.76 and its two-hundred day moving average price is $148.59. 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 market capitalization of $60.86 billion, a P/E ratio of 13.14, a PEG ratio of 3.06 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share 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 the consensus estimate of $5.19 billion. During the same period last year, the firm posted $3.98 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.05%. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.