Quarry LP Buys 139 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Quarry LP grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 100.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278 shares of the financial services provider’s stock after buying an additional 139 shares during the quarter. Quarry LP’s holdings in The PNC Financial Services Group were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. Taylor Financial Group Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $208,000. DRW Securities LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $1,476,000. Aspect Partners LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $240,000. O Dell Group LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $205,000. Finally, Fort Sheridan Advisors LLC grew its position in shares of The PNC Financial Services Group by 2.8% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,254 shares of the financial services provider’s stock valued at $659,000 after acquiring an additional 117 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PNC. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Jefferies Financial Group decreased their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Finally, StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $157.83.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 850 shares of the 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 sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.4 %

Shares of PNC opened at $151.09 on Monday. The business’s 50 day simple moving average is $155.01 and its 200-day simple moving average is $152.01. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. 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 $60.12 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

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.