The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 56.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,676 shares of the financial services provider's stock after purchasing an additional 7,460 shares during the quarter. Tower Research Capital LLC TRC's holdings in The PNC Financial Services Group were worth $3,987,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after purchasing an additional 22,271 shares in the last quarter. Morse Asset Management Inc purchased a new stake in The PNC Financial Services Group during the third quarter worth about $481,000. Wealthquest Corp acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth about $212,000. Wilmington Savings Fund Society FSB boosted its stake in shares of The PNC Financial Services Group by 86.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider's stock valued at $6,367,000 after purchasing an additional 15,962 shares during the period. Finally, Synovus Financial Corp increased its stake in The PNC Financial Services Group by 3.7% during the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider's stock worth $2,631,000 after buying an additional 509 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. Morgan Stanley lowered their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada lowered their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Citigroup lowered their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company decreased their target price on 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. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $200.88.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $150.50, for a total value of $96,470.50. Following the completion of the transaction, the chief executive officer now directly owns 562,291 shares of the company's stock, valued at $84,624,795.50. The trade was 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 the SEC website. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,172,655. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded down $1.26 during trading hours on Friday, reaching $158.49. 1,125,112 shares of the company's stock were exchanged, compared to its average volume of 1,995,158. The company's 50 day moving average is $169.74 and its two-hundred day moving average is $188.25. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market cap of $62.72 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. Equities research analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.04%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

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.