Canopy Partners LLC Has $1.97 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Canopy Partners LLC boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 42.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,212 shares of the financial services provider’s stock after purchasing an additional 3,025 shares during the quarter. Canopy Partners LLC’s holdings in The PNC Financial Services Group were worth $1,969,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PNC. Polymer Capital Management US LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at $681,000. Cerity Partners LLC raised its holdings in The PNC Financial Services Group by 0.9% during the 4th quarter. Cerity Partners LLC now owns 122,449 shares of the financial services provider’s stock valued at $23,160,000 after acquiring an additional 1,070 shares during the period. Prospector Partners LLC grew its holdings in The PNC Financial Services Group by 0.3% during the 4th quarter. Prospector Partners LLC now owns 92,045 shares of the financial services provider’s stock valued at $17,751,000 after buying an additional 265 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 59 shares during the period. Finally, Ted Buchan & Co grew its position in shares of The PNC Financial Services Group by 2.7% during the 4th quarter. Ted Buchan & Co now owns 7,521 shares of the financial services provider’s stock valued at $1,450,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 5.2 %

Shares of PNC stock opened at $152.85 on Monday. The company has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The business’s 50 day moving average is $184.93 and its two-hundred day moving average is $191.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the completion of the transaction, the chief executive officer now directly owns 564,815 shares in the company, valued at approximately $98,718,365.70. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 12,420 shares of company stock valued at $2,320,739 over the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Barclays raised their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Finally, Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $205.18.

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.