Tower Research Capital LLC TRC Acquires 41,115 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Tower Research Capital LLC TRC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 289.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,332 shares of the financial services provider’s stock after purchasing an additional 41,115 shares during the quarter. Tower Research Capital LLC TRC’s holdings in The PNC Financial Services Group were worth $8,568,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PNC. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Up 0.3 %

The PNC Financial Services Group stock traded up $0.44 during trading on Wednesday, hitting $154.60. The company had a trading volume of 1,219,082 shares, compared to its average volume of 1,952,756. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company’s 50 day simple moving average is $155.98 and its 200-day simple moving average is $150.68. The stock has a market cap of $61.52 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 2.99 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted 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 business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.98 earnings per share. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.01%. The PNC Financial Services Group’s payout ratio is 52.06%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PNC shares. Evercore ISI lowered their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group decreased their price objective on 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. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $157.02.

Insider Activity

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

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.