Rafferty Asset Management LLC Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Rafferty Asset Management LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,984 shares of the financial services provider’s stock after buying an additional 5,219 shares during the quarter. Rafferty Asset Management LLC’s holdings in The PNC Financial Services Group were worth $26,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $299,864,000. Schroder Investment Management Group boosted its stake in shares of The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after purchasing an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after purchasing an additional 710,311 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Barclays lowered their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the transaction, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,396 shares of company stock worth $2,789,603. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $179.64 on Friday. The company has a market capitalization of $71.06 billion, a PE ratio of 13.06, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $164.67 and a two-hundred day simple moving average of $186.29. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

The PNC Financial Services Group Company 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.