The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 526.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,888 shares of the financial services provider’s stock after acquiring an additional 10,831 shares during the period. Los Angeles Capital Management LLC’s holdings in The PNC Financial Services Group were worth $2,083,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PNC. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $28,000. Householder Group Estate & Retirement Specialist LLC grew its stake in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $31,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $153.20 on Friday. The business’s 50 day moving average is $154.73 and its 200-day moving average is $152.36. The stock has a market cap of $60.96 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24.

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 for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 earnings per share. On average, analysts predict that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PNC shares. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI reduced their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Bank of America increased their price target 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. 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.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $157.83.

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.