Matrix Asset Advisors Inc. NY Has $12.21 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Matrix Asset Advisors Inc. NY raised its position in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 16.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,361 shares of the financial services provider’s stock after buying an additional 11,035 shares during the quarter. The PNC Financial Services Group comprises about 1.9% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 22nd largest position. Matrix Asset Advisors Inc. NY’s holdings in The PNC Financial Services Group were worth $12,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Hilltop Holdings Inc. grew its position in The PNC Financial Services Group by 3.6% during the fourth quarter. Hilltop Holdings Inc. now owns 2,005 shares of the financial services provider’s stock valued at $402,000 after buying an additional 69 shares during the period. Gotham Asset Management LLC lifted its stake in The PNC Financial Services Group by 22.5% in the fourth quarter. Gotham Asset Management LLC now owns 11,881 shares of the financial services provider’s stock worth $2,382,000 after acquiring an additional 2,179 shares during the period. Rockefeller Capital Management L.P. lifted its stake in The PNC Financial Services Group by 30.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 38,659 shares of the financial services provider’s stock worth $7,751,000 after acquiring an additional 9,112 shares during the period. Mutual Advisors LLC lifted its position in The PNC Financial Services Group by 13.0% during the fourth quarter. Mutual Advisors LLC now owns 2,195 shares of the financial services provider’s stock valued at $440,000 after buying an additional 252 shares during the period. Finally, Blair William & Co. IL raised its holdings in The PNC Financial Services Group by 19.6% in the fourth quarter. Blair William & Co. IL now owns 16,908 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 2,773 shares during the last quarter. 81.89% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $2.70 during midday trading on Friday, reaching $151.97. The stock had a trading volume of 43,632 shares, compared to its average volume of 1,726,032. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $62.33 billion, a P/E ratio of 12.10, a PEG ratio of 2.37 and a beta of 1.21. The firm’s fifty day simple moving average is $163.92 and its 200-day simple moving average is $168.71. The PNC Financial Services Group, Inc. has a 1-year low of $146.39 and a 1-year high of $228.14.

The PNC Financial Services Group (NYSE:PNCGet Rating) last announced its earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm posted $4.50 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 14.5 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Wednesday, July 13th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Tuesday, July 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.95%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael P. Lyons sold 3,500 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total value of $584,360.00. Following the completion of the transaction, the executive vice president now owns 174,651 shares of the company’s stock, valued at $29,159,730.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wolfe Research decreased their price objective on The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. Jefferies Financial Group reduced their price target on The PNC Financial Services Group from $188.00 to $156.00 in a research report on Monday, July 11th. Evercore ISI set a $175.00 target price on The PNC Financial Services Group in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft reduced their target price on The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating for the company in a report on Monday, September 12th. Finally, Barclays lowered their price objective on The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $197.78.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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