Congress Asset Management Co. MA Acquires Shares of 1,280 The PNC Financial Services Group, Inc. (NYSE:PNC)

Congress Asset Management Co. MA acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,280 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in shares of The PNC Financial Services Group by 10.5% during the third quarter. Acadian Asset Management LLC now owns 23,845 shares of the financial services provider’s stock worth $2,923,000 after buying an additional 2,272 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of The PNC Financial Services Group by 103.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 11,666 shares of the financial services provider’s stock worth $1,432,000 after buying an additional 5,937 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of The PNC Financial Services Group by 5.1% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,239 shares of the financial services provider’s stock worth $1,380,000 after buying an additional 550 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of The PNC Financial Services Group by 2.5% during the third quarter. Natixis Advisors L.P. now owns 254,300 shares of the financial services provider’s stock worth $31,221,000 after buying an additional 6,161 shares in the last quarter. Finally, Consolidated Portfolio Review Corp grew its position in shares of The PNC Financial Services Group by 15.9% during the third quarter. Consolidated Portfolio Review Corp now owns 1,931 shares of the financial services provider’s stock worth $237,000 after buying an additional 265 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC stock opened at $153.20 on Monday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The stock’s fifty day moving average is $154.73 and its two-hundred day moving average is $152.55. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $60.96 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 2.18 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the business earned $3.98 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PNC shares. JPMorgan Chase & Co. decreased their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. 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. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. 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 for the company in a report on Wednesday, April 17th. Finally, Evercore ISI decreased their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.83.

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.