Hosking Partners LLP Acquires 15,747 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Hosking Partners LLP raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,129 shares of the financial services provider’s stock after purchasing an additional 15,747 shares during the period. Hosking Partners LLP’s holdings in The PNC Financial Services Group were worth $16,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Loomis Sayles & Co. L P raised its holdings in shares of The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares during the period. Transcend Capital Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. increased its position in shares of The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $188.46 on Friday. The company has a 50 day moving average of $195.43 and a 200 day moving average of $192.15. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The firm has a market cap of $74.78 billion, a P/E ratio of 13.71, a PEG ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping 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 firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the sale, the chief executive officer now owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 12,420 shares of company stock valued at $2,445,461 over the last three months. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PNC. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Company 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.