Duality Advisers LP Purchases New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Duality Advisers LP purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,898 shares of the financial services provider’s stock, valued at approximately $1,533,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rockline Wealth Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $1,825,000. KPP Advisory Services LLC acquired a new position in The PNC Financial Services Group during the 3rd quarter valued at approximately $323,000. AQR Capital Management LLC boosted its position in 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 valued at $14,032,000 after purchasing an additional 67,490 shares during the period. Trust Point Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $295,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNC has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. 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 report on Wednesday, April 17th. Finally, Evercore ISI reduced their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $156.63.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 2.4 %

PNC opened at $155.93 on Tuesday. The stock’s fifty day moving average is $152.03 and its 200-day moving average is $142.51. The company has a market capitalization of $62.03 billion, a PE ratio of 13.09, a P/E/G 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 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.98 earnings per share. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, April 12th. 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.