Lantz Financial LLC Purchases 83 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Lantz Financial LLC increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% during the first quarter, HoldingsChannel.com reports. The fund owned 2,058 shares of the financial services provider’s stock after buying an additional 83 shares during the quarter. Lantz Financial LLC’s holdings in The PNC Financial Services Group were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PNC. Norges Bank bought a new position in The PNC Financial Services Group during the fourth quarter worth about $1,039,481,000. Franklin Resources Inc. boosted its holdings in shares of The PNC Financial Services Group by 165.4% in the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after acquiring an additional 3,046,226 shares during the period. Capital International Investors grew its position in shares of The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after purchasing an additional 1,978,854 shares in the last quarter. Capital Research Global Investors raised its stake in shares of The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after purchasing an additional 639,903 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.0 %

PNC stock opened at $153.20 on Friday. The company’s 50 day moving average price is $154.73 and its two-hundred day moving average price is $152.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a market capitalization of $60.96 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16.

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

The PNC Financial Services Group Dividend Announcement

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

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the business’s 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 transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on PNC shares. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, The Goldman Sachs Group increased 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 report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $157.83.

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.