Horizon Investments LLC Has $1.16 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Horizon Investments LLC grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 14.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,339 shares of the financial services provider’s stock after purchasing an additional 789 shares during the period. Horizon Investments LLC’s holdings in The PNC Financial Services Group were worth $1,160,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PNC. Cetera Investment Advisers increased its stake in The PNC Financial Services Group by 0.4% in the 4th quarter. Cetera Investment Advisers now owns 14,417 shares of the financial services provider’s stock valued at $2,891,000 after buying an additional 53 shares during the period. Hoylecohen LLC grew its holdings in The PNC Financial Services Group by 4.1% in the 4th quarter. Hoylecohen LLC now owns 1,458 shares of the financial services provider’s stock valued at $292,000 after buying an additional 58 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in The PNC Financial Services Group by 5.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,176 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 60 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in The PNC Financial Services Group by 0.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 10,492 shares of the financial services provider’s stock valued at $2,104,000 after purchasing an additional 63 shares during the period. Finally, Humankind Investments LLC grew its position in The PNC Financial Services Group by 4.5% in the 4th quarter. Humankind Investments LLC now owns 1,467 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 63 shares during the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PNC shares. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $168.00 to $180.00 in a research note on Monday, July 18th. Credit Suisse Group lowered their price objective on The PNC Financial Services Group from $172.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Jefferies Financial Group reduced their target price on The PNC Financial Services Group from $188.00 to $156.00 in a research report on Monday, July 11th. Barclays lowered their price target on shares of The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. Finally, Wells Fargo & Company reduced their price objective on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $197.63.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael P. Lyons sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $166.96, for a total value of $584,360.00. Following the completion of the sale, the executive vice president now directly owns 174,651 shares in the company, valued at approximately $29,159,730.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $164.34 on Monday. The PNC Financial Services Group, Inc. has a twelve month low of $146.39 and a twelve month high of $228.14. The company has a market cap of $67.40 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. The business’s 50 day moving average price is $163.28 and its two-hundred day moving average price is $170.22. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.75.

The PNC Financial Services Group (NYSE:PNCGet Rating) last posted its earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. The PNC Financial Services Group had a return on equity of 11.93% and a net margin of 27.32%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the firm earned $4.50 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc. will post 14.49 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Wednesday, July 13th were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, July 12th. This represents a $6.00 annualized dividend and a yield of 3.65%. The PNC Financial Services Group’s dividend payout ratio is currently 46.95%.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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