Kovitz Investment Group Partners LLC Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kovitz Investment Group Partners LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 417.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,981 shares of the financial services provider’s stock after purchasing an additional 288,050 shares during the period. Kovitz Investment Group Partners LLC’s holdings in The PNC Financial Services Group were worth $68,844,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PNC. Burling Wealth Partners LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $299,000. Evercore Wealth Management LLC boosted its position in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Evercore Wealth Management LLC now owns 8,532 shares of the financial services provider’s stock worth $1,645,000 after purchasing an additional 152 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of The PNC Financial Services Group by 560.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 87,691 shares of the financial services provider’s stock worth $16,912,000 after purchasing an additional 74,416 shares during the period. MGO One Seven LLC increased its holdings in shares of The PNC Financial Services Group by 8.9% in the 4th quarter. MGO One Seven LLC now owns 21,748 shares of the financial services provider’s stock valued at $4,194,000 after purchasing an additional 1,771 shares in the last quarter. Finally, Alta Advisers Ltd lifted its stake in shares of The PNC Financial Services Group by 15.5% in the fourth quarter. Alta Advisers Ltd now owns 1,270 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Barclays lowered their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Citigroup cut their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley lowered their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $200.88.

The PNC Financial Services Group Trading Up 1.5 %

Shares of The PNC Financial Services Group stock opened at $159.80 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The business’s fifty day moving average is $170.50 and its two-hundred day moving average is $188.40. 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 firm has a market cap of $63.24 billion, a PE ratio of 11.62, a P/E/G ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. 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 $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 4.01%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $150.50, for a total value of $96,470.50. Following the transaction, the chief executive officer now directly owns 562,291 shares of the company’s stock, valued at approximately $84,624,795.50. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 11,218 shares of company stock valued at $1,980,335 over the last quarter. Company insiders own 0.41% 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.