The PNC Financial Services Group, Inc $PNC Shares Bought by Empire Life Investments Inc.

Empire Life Investments Inc. lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 217,119 shares of the financial services provider’s stock after acquiring an additional 17,418 shares during the quarter. The PNC Financial Services Group accounts for approximately 2.6% of Empire Life Investments Inc.’s holdings, making the stock its 8th largest position. Empire Life Investments Inc.’s holdings in The PNC Financial Services Group were worth $45,319,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Westfuller Advisors LLC bought a new position in shares of The PNC Financial Services Group during the third quarter worth approximately $34,000. Beacon Financial Strategies CORP bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $35,000. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $39,000. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Oppenheimer increased their price target on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. Morgan Stanley raised their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.11.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 7,407 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the transaction, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. This represents a 79.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Louis Robert Cestello sold 4,279 shares of the 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 completion of the transaction, the executive vice president directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 64,186 shares of company stock valued at $14,840,973. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4%

Shares of PNC stock opened at $215.39 on Wednesday. The PNC Financial Services Group, Inc has a fifty-two week low of $169.32 and a fifty-two week high of $243.94. The stock’s fifty day moving average price is $213.56 and its two-hundred day moving average price is $210.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $86.50 billion, a PE ratio of 12.52, a P/E/G ratio of 0.89 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The business 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 period in the prior year, the company earned $3.51 EPS. Equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

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.