Los Angeles Capital Management LLC Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Los Angeles Capital Management LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 161,336 shares of the financial services provider’s stock after buying an additional 10,818 shares during the quarter. Los Angeles Capital Management LLC’s holdings in The PNC Financial Services Group were worth $31,114,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of The PNC Financial Services Group by 19.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,993 shares of the financial services provider’s stock valued at $5,857,000 after buying an additional 5,223 shares during the period. PFG Investments LLC raised its position in The PNC Financial Services Group by 9.7% in the third quarter. PFG Investments LLC now owns 2,932 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 260 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in The PNC Financial Services Group by 8.7% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,442 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 196 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in The PNC Financial Services Group by 3.0% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,599 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 105 shares during the period. Finally, Orrstown Financial Services Inc. purchased a new stake in The PNC Financial Services Group in the third quarter valued at approximately $1,778,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the sale, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at approximately $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 13,662 shares of company stock valued at $2,713,745 over the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $186.55 on Wednesday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a market cap of $74.02 billion, a P/E ratio of 13.57, a PEG ratio of 1.55 and a beta of 1.16. 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 firm has a fifty day moving average price of $195.56 and a 200 day moving average price of $192.21.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNC shares. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group boosted their target price 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. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Compass Point boosted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price 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.