The PNC Financial Services Group, Inc $PNC Shares Bought by Davis Rea LTD.

Davis Rea LTD. grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 19.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,539 shares of the financial services provider’s stock after acquiring an additional 10,220 shares during the quarter. The PNC Financial Services Group comprises 3.3% of Davis Rea LTD.’s portfolio, making the stock its 11th biggest position. Davis Rea LTD.’s holdings in The PNC Financial Services Group were worth $13,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in The PNC Financial Services Group during the third quarter worth about $25,000. Beacon Financial Strategies CORP acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $35,000. Westfuller Advisors LLC acquired a new stake in The PNC Financial Services Group during the third quarter worth about $34,000. JPL Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the third quarter worth about $37,000. Finally, Financial Life Planners acquired a new stake in The PNC Financial Services Group during the third quarter worth about $39,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PNC shares. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Barclays increased their target price on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $251.00 to $237.50 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $241.69.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 50,000 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares of the company’s stock, valued at $4,940,179.20. This represents a 10.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 64,186 shares of company stock worth $14,840,973. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Up 0.0%

Shares of PNC opened at $225.17 on Friday. The company has a market capitalization of $90.83 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.94 and a beta of 0.96. The PNC Financial Services Group, Inc has a one year low of $156.15 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50-day moving average price of $214.90 and a 200 day moving average price of $207.25.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.51 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.75 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.