GAMMA Investing LLC Takes $266,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

GAMMA Investing LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,762 shares of the financial services provider’s stock, valued at approximately $266,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Steph & Co. grew its position in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 67 shares in the last quarter. Bangor Savings Bank increased its stake in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after acquiring an additional 69 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 75 shares during the last quarter. Caprock Group LLC raised its position in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after buying an additional 79 shares during the last quarter. Finally, Legacy Advisors LLC boosted its stake in The PNC Financial Services Group by 0.8% during the third quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNC shares. UBS Group lifted 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 note on Thursday, January 18th. Jefferies Financial Group reduced their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Evercore ISI lowered their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $156.63.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’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 transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.1 %

Shares of PNC stock opened at $156.30 on Friday. 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 firm has a fifty day moving average of $152.61 and a 200-day moving average of $142.97. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a market capitalization of $62.18 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.79 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $3.98 EPS. The company’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research 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 declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.97%. The PNC Financial Services Group’s payout ratio is 52.06%.

The PNC Financial Services Group Company 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.