MeadowBrook Investment Advisors LLC Purchases New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

MeadowBrook Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 264 shares of the financial services provider’s stock, valued at approximately $41,000.

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

The PNC Financial Services Group Price Performance

PNC traded down $0.24 on Tuesday, reaching $156.19. The company had a trading volume of 281,455 shares, compared to its average volume of 2,037,898. The business has a 50 day simple moving average of $153.82 and a 200 day simple moving average of $145.08. The company has a market cap of $62.13 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.77 and a beta of 1.16. 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 52-week low of $109.40 and a 52-week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm 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 business’s revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm posted $3.98 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Bank of America increased their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. UBS Group increased their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Wells Fargo & Company increased their price target 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. Finally, The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.02.

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.