MassMutual Private Wealth & Trust FSB Has $6.05 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

MassMutual Private Wealth & Trust FSB increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,436 shares of the financial services provider’s stock after purchasing an additional 2,448 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in The PNC Financial Services Group were worth $6,053,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $739,000. Premier Fund Managers Ltd increased its stake in The PNC Financial Services Group by 38.3% in the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after acquiring an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer now directly owns 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,396 shares of company stock valued at $2,747,698 over the last ninety days. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PNC shares. Keefe, Bruyette & Woods reduced their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada dropped their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. TD Cowen started coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price on the stock. Morgan Stanley lowered their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Finally, Citigroup dropped 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 report on Monday, March 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.67.

The PNC Financial Services Group Price Performance

PNC stock opened at $175.15 on Friday. The company has a market capitalization of $69.28 billion, a P/E ratio of 12.74, a PEG ratio of 1.55 and a beta of 1.06. The company has a fifty day moving average price of $165.13 and a 200-day moving average price of $184.90. 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 PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating 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 return on equity of 11.12% and a net margin of 17.10%. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.65%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

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.