Townsquare Capital LLC Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Townsquare Capital LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,567 shares of the financial services provider's stock after buying an additional 5,363 shares during the period. Townsquare Capital LLC's holdings in The PNC Financial Services Group were worth $4,545,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. lifted its holdings in The PNC Financial Services Group by 2,333.3% during the 4th 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 in the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the 4th quarter worth about $30,000. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on PNC shares. Morgan Stanley reduced their price objective on shares of 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. 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 note on Wednesday. Stephens restated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research report on Wednesday. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Hold" and a consensus price target of $200.88.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $150.63, for a total transaction of $96,553.83. Following the transaction, the chief executive officer now directly owns 562,932 shares of the company's stock, valued at approximately $84,794,447.16. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 11,819 shares of company stock valued at $2,127,508 in the last 90 days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 0.3 %

Shares of NYSE:PNC traded up $0.51 during trading on Friday, reaching $152.05. 3,564,375 shares of the company traded hands, compared to its average volume of 1,989,650. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The firm has a market capitalization of $60.17 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.04. The business's fifty day moving average is $173.63 and its 200-day moving average is $189.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 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.