Entropy Technologies LP Invests $5.82 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Entropy Technologies LP bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,201 shares of the financial services provider’s stock, valued at approximately $5,824,000. The PNC Financial Services Group comprises about 0.6% of Entropy Technologies LP’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also modified their holdings of PNC. International Assets Investment Management LLC grew its position in shares of The PNC Financial Services Group by 12,940.0% during the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after acquiring an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of The PNC Financial Services Group by 160.9% during the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after acquiring an additional 274,186 shares during the last quarter. Toronto Dominion Bank grew its position in shares of The PNC Financial Services Group by 129.3% during the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after acquiring an additional 252,473 shares during the last quarter. Finally, Eastern Bank grew its position in shares of The PNC Financial Services Group by 1,884.1% during the third quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock worth $45,993,000 after acquiring an additional 236,272 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.8 %

NYSE:PNC opened at $200.80 on Friday. The company has a market capitalization of $79.67 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The stock has a fifty day simple moving average of $198.40 and a 200-day simple moving average of $190.45.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Compass Point lifted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,413 shares of company stock worth $6,037,230. 0.42% of the stock is owned by corporate insiders.

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.