Certuity LLC Acquires 101,120 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Certuity LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3,623.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,911 shares of the financial services provider’s stock after buying an additional 101,120 shares during the period. The PNC Financial Services Group accounts for approximately 1.6% of Certuity LLC’s portfolio, making the stock its 16th biggest holding. Certuity LLC’s holdings in The PNC Financial Services Group were worth $16,091,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norden Group LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $267,000. Penobscot Investment Management Company Inc. raised its stake in The PNC Financial Services Group by 9.5% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 8,203 shares of the financial services provider’s stock valued at $1,270,000 after purchasing an additional 710 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in The PNC Financial Services Group by 18.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 20,640 shares of the financial services provider’s stock valued at $3,196,000 after purchasing an additional 3,160 shares during the period. Altrius Capital Management Inc grew its position in The PNC Financial Services Group by 0.6% in the 4th quarter. Altrius Capital Management Inc now owns 26,857 shares of the financial services provider’s stock worth $4,159,000 after purchasing an additional 168 shares during the last quarter. Finally, Anchor Capital Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 601.1% during the 4th 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 period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s 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 transaction, the executive vice president now 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 available at this hyperlink. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 1.2 %

PNC stock traded down $1.94 during trading on Tuesday, hitting $153.84. The company had a trading volume of 711,971 shares, compared to its average volume of 2,086,700. The firm has a 50-day moving average price of $152.90 and a 200-day moving average price of $143.75. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market cap of $61.20 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 (NYSE:PNC) last issued its quarterly 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 analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.98 EPS. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PNC. Bank of America lifted their target price on 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. 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. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, Morgan Stanley upped their price target on 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. Three investment 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.