The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Boosted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 143.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,496 shares of the financial services provider’s stock after acquiring an additional 881 shares during the period. Harvest Fund Management Co. Ltd’s holdings in The PNC Financial Services Group were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PNC. DAVENPORT & Co LLC raised its stake in shares of The PNC Financial Services Group by 5.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 32,582 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 1,746 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of The PNC Financial Services Group by 0.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 11,615 shares of the financial services provider’s stock valued at $1,372,000 after purchasing an additional 102 shares in the last quarter. Meridian Wealth Management LLC grew its stake in shares of The PNC Financial Services Group by 95.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 11,108 shares of the financial services provider’s stock worth $1,364,000 after purchasing an additional 5,419 shares during the last quarter. Strategic Blueprint LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $211,000. Finally, Washington Trust Advisors Inc. lifted its stake in The PNC Financial Services Group by 555.6% during the third quarter. Washington Trust Advisors Inc. now owns 354 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 300 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

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 on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on PNC. Bank of America upped their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group upped their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $156.80 on Thursday. The stock has a market capitalization of $62.38 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.18. The company has a 50 day moving average price of $152.48 and a two-hundred day moving average price of $142.88. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during 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 company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 EPS. As a group, equities 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 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.