Grandfield & Dodd LLC Purchases Shares of 1,357 The PNC Financial Services Group, Inc. (NYSE:PNC)

Grandfield & Dodd LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,357 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $25,000. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $26,000. Fortitude Family Office LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PNC has been the subject of several analyst reports. Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley upped their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Jefferies Financial Group decreased their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Trading Up 3.0 %

NYSE:PNC opened at $152.30 on Friday. The business’s 50-day simple moving average is $151.89 and its 200 day simple moving average is $142.10. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The stock has a market cap of $60.59 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 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.