Tennessee Valley Asset Management Partners Buys New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 170 shares of the financial services provider’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC increased its position in The PNC Financial Services Group by 5.7% during the third 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 during the last quarter. GHP Investment Advisors Inc. increased its position in The PNC Financial Services Group by 0.9% during the third quarter. GHP Investment Advisors Inc. now owns 11,615 shares of the financial services provider’s stock worth $1,372,000 after buying an additional 102 shares during the last quarter. Meridian Wealth Management LLC increased its position in The PNC Financial Services Group by 95.3% during the third quarter. Meridian Wealth Management LLC now owns 11,108 shares of the financial services provider’s stock worth $1,364,000 after buying an additional 5,419 shares during the last quarter. Strategic Blueprint LLC acquired a new position in The PNC Financial Services Group during the third quarter worth approximately $211,000. Finally, Washington Trust Advisors Inc. increased its position 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 worth $43,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PNC shares. Jefferies Financial Group lowered their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Finally, UBS Group upped their target price 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. Two investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Up 0.3 %

NYSE PNC opened at $158.06 on Thursday. The business has a fifty day moving average price of $152.48 and a two-hundred day moving average price of $142.88. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The stock has a market capitalization of $62.88 billion, a PE ratio of 13.27, a PEG ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last released 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 PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The company’s quarterly revenue was down 8.2% on a year-over-year basis. Equities analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.92%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’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 directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

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.