The PNC Financial Services Group, Inc $PNC Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 101.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,150 shares of the financial services provider’s stock after purchasing an additional 8,151 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in The PNC Financial Services Group were worth $3,371,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PNC. Brighton Jones LLC grew its holdings in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC increased its stake in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the period. Sivia Capital Partners LLC lifted its holdings in The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in The PNC Financial Services Group by 1.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after buying an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $482,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares of the company’s stock, valued at $448,563.16. This trade represents a 79.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares in the company, valued at $4,940,179.20. This trade represents a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 64,186 shares of company stock worth $14,840,973 in the last ninety days. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.1%

Shares of NYSE:PNC opened at $220.92 on Monday. The firm’s 50 day moving average price is $213.91 and its 200 day moving average price is $208.57. The stock has a market cap of $89.11 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94. The PNC Financial Services Group, Inc has a fifty-two week low of $163.11 and a fifty-two week high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.00.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.51 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Analyst Ratings Changes

PNC has been the topic of a number of recent research reports. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective on the stock. Oppenheimer lifted their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, Bank of America increased their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.72.

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.