Massmutual Trust Co. FSB ADV Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Massmutual Trust Co. FSB ADV grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,867 shares of the financial services provider’s stock after purchasing an additional 1,410 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in The PNC Financial Services Group were worth $4,342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC boosted its holdings in The PNC Financial Services Group by 23.2% during the 1st quarter. Rise Advisors LLC now owns 1,263 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 238 shares during the period. Mather Group LLC. lifted its position in The PNC Financial Services Group by 5.5% during the first quarter. Mather Group LLC. now owns 6,252 shares of the financial services provider’s stock valued at $968,000 after buying an additional 327 shares during the period. Emprise Bank bought a new stake in The PNC Financial Services Group during the first quarter worth about $671,000. Beese Fulmer Investment Management Inc. grew its stake in shares of The PNC Financial Services Group by 7.5% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 3,993 shares of the financial services provider’s stock worth $645,000 after buying an additional 278 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of The PNC Financial Services Group by 7.5% during the first quarter. GAMMA Investing LLC now owns 1,895 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Finally, StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $157.83.

The PNC Financial Services Group Stock Down 0.9 %

Shares of The PNC Financial Services Group stock opened at $153.16 on Friday. The company has a market cap of $60.94 billion, a P/E ratio of 12.86, a PEG ratio of 2.20 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm’s 50 day moving average price is $154.68 and its 200-day moving average price is $152.28.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.05%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

The PNC Financial Services Group 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.