Grantham Mayo Van Otterloo & Co. LLC Buys 39,244 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 671.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,086 shares of the financial services provider's stock after buying an additional 39,244 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in The PNC Financial Services Group were worth $8,695,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. grew its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 1.1 %

NYSE:PNC traded down $1.68 during trading hours on Friday, hitting $150.48. 1,069,453 shares of the company traded hands, compared to its average volume of 1,955,556. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $59.55 billion, a PE ratio of 10.93, a PEG ratio of 1.55 and a beta of 1.04. The firm's 50-day simple moving average is $179.25 and its 200-day simple moving average is $190.38.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNC shares. Wells Fargo & Company reduced their price objective 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 report on Friday, March 28th. Citigroup reduced their price target 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. Stephens reiterated an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Morgan Stanley decreased their target price on The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $203.47.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $196.17, for a total value of $243,643.14. Following the transaction, the chief executive officer now owns 523,829 shares of the company's stock, valued at approximately $102,759,534.93. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 12,420 shares of company stock valued at $2,276,870. 0.41% of the stock is owned by insiders.

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.