Quent Long Short Global Small Cap Fund LP Makes New $874,000 Investment in The PNC Financial Services Group, Inc $PNC

Quent Long Short Global Small Cap Fund LP bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 4th quarter, HoldingsChannel reports. The firm bought 4,187 shares of the financial services provider’s stock, valued at approximately $874,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Mirae Asset Global Investments Co. Ltd. grew its position in shares of The PNC Financial Services Group by 12.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after buying an additional 6,572 shares during the last quarter. US Bancorp DE grew its position in shares of The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after buying an additional 34,009 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after buying an additional 22,325 shares during the last quarter. National Pension Service grew its position in shares of The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after buying an additional 26,305 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after buying an additional 7,064 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PNC. Jefferies Financial Group began coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Bank of America raised their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Finally, TD Cowen raised their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $241.69.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $225.17 on Friday. The stock has a 50-day moving average of $214.90 and a two-hundred day moving average of $207.25. 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 market cap 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 (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the firm posted $3.51 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 18.75 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the sale, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 64,186 shares of company stock valued at $14,840,973. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group 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.