Bailard Inc. Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Bailard Inc. raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,362 shares of the financial services provider’s stock after buying an additional 508 shares during the period. Bailard Inc.’s holdings in The PNC Financial Services Group were worth $7,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $1,825,000. KPP Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $323,000. AQR Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNC. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Bank of America boosted 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 note on Wednesday, April 17th. Finally, 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 on the stock in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $156.63.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $2.33 on Thursday, reaching $155.73. The stock had a trading volume of 773,276 shares, compared to its average volume of 2,120,790. The business’s 50-day moving average price is $152.48 and its two-hundred day moving average price is $142.88. 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 PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The stock has a market cap of $61.95 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) 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 the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.98%. The PNC Financial Services Group’s payout ratio is 52.06%.

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.