Benin Management CORP Has $5.72 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Benin Management CORP lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,648 shares of the financial services provider’s stock after selling 348 shares during the quarter. The PNC Financial Services Group makes up approximately 1.6% of Benin Management CORP’s portfolio, making the stock its 10th largest holding. Benin Management CORP’s holdings in The PNC Financial Services Group were worth $5,718,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Intech Investment Management LLC raised its stake in shares of The PNC Financial Services Group by 65.9% in the 2nd quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 1,193 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of The PNC Financial Services Group by 8.2% in the second quarter. Thrivent Financial for Lutherans now owns 32,910 shares of the financial services provider’s stock valued at $5,118,000 after purchasing an additional 2,508 shares during the period. AXA S.A. lifted its stake in shares of The PNC Financial Services Group by 46.8% in the second quarter. AXA S.A. now owns 12,125 shares of the financial services provider’s stock worth $1,885,000 after buying an additional 3,865 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 14.2% during the 2nd quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock worth $6,983,000 after buying an additional 5,640 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in shares of The PNC Financial Services Group by 203.2% during the 2nd quarter. APG Asset Management N.V. now owns 47,452 shares of the financial services provider’s stock worth $6,884,000 after buying an additional 31,800 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 0.9 %

NYSE PNC opened at $199.49 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a market capitalization of $79.15 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.59 and a beta of 1.16. The stock’s 50 day moving average is $200.45 and its two-hundred day moving average is $188.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm earned $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PNC. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Barclays increased their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,171 shares of company stock valued at $5,777,926. 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.