Southland Equity Partners LLC Takes $200,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Southland Equity Partners LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,240 shares of the financial services provider’s stock, valued at approximately $200,000.

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

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Bank of America boosted their price objective 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. Evercore ISI reduced their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. reduced 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. Two 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $157.83.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $154.90 on Tuesday. 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 debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average price of $154.84 and a 200 day moving average price of $152.66. The firm has a market capitalization of $61.64 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. 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 business posted $3.98 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.00%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is owned by insiders.

About The PNC Financial Services Group

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.