Advisors Asset Management Inc. Buys 4,587 Shares of PNC Financial Services Group Inc (NYSE:PNC)

Advisors Asset Management Inc. grew its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,696 shares of the financial services provider’s stock after buying an additional 4,587 shares during the quarter. Advisors Asset Management Inc.’s holdings in PNC Financial Services Group were worth $5,060,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Citizens Financial Group Inc RI grew its stake in shares of PNC Financial Services Group by 5.8% during the fourth quarter. Citizens Financial Group Inc RI now owns 14,813 shares of the financial services provider’s stock valued at $2,365,000 after buying an additional 808 shares during the last quarter. First Allied Advisory Services Inc. grew its stake in shares of PNC Financial Services Group by 7.1% during the fourth quarter. First Allied Advisory Services Inc. now owns 12,568 shares of the financial services provider’s stock valued at $2,011,000 after buying an additional 836 shares during the last quarter. Capital Analysts LLC grew its stake in shares of PNC Financial Services Group by 63.4% in the fourth quarter. Capital Analysts LLC now owns 1,031 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 400 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of PNC Financial Services Group by 323.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 2,955 shares during the last quarter. Finally, AMF Pensionsforsakring AB grew its stake in shares of PNC Financial Services Group by 13.6% in the fourth quarter. AMF Pensionsforsakring AB now owns 678,019 shares of the financial services provider’s stock worth $108,232,000 after purchasing an additional 81,017 shares during the last quarter. 82.60% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Andrew T. Feldstein acquired 10,535 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average cost of $94.92 per share, with a total value of $999,982.20. Following the transaction, the director now owns 53,158 shares in the company, valued at approximately $5,045,757.36. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles E. Bunch acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $153.11 per share, for a total transaction of $153,110.00. Following the completion of the transaction, the director now owns 4,781 shares in the company, valued at approximately $732,018.91. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 21,302 shares of company stock worth $2,153,135. Insiders own 0.30% of the company’s stock.

PNC has been the topic of several recent analyst reports. Wells Fargo & Co raised PNC Financial Services Group from an “equal weight” rating to an “overweight” rating and set a $110.00 target price on the stock in a research note on Thursday, March 19th. Barclays reissued a “hold” rating and issued a $181.00 target price on shares of PNC Financial Services Group in a research note on Tuesday, January 7th. Citigroup raised their target price on PNC Financial Services Group from $139.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Zacks Investment Research raised PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $146.00 target price on the stock in a research note on Thursday, February 27th. Finally, Nomura reissued a “hold” rating and issued a $155.00 target price on shares of PNC Financial Services Group in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $149.73.

PNC Financial Services Group stock opened at $92.05 on Thursday. The stock’s 50 day simple moving average is $127.85 and its two-hundred day simple moving average is $144.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $34.57 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.90 and a beta of 1.19. PNC Financial Services Group Inc has a fifty-two week low of $79.41 and a fifty-two week high of $161.79.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.05. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.48 billion. PNC Financial Services Group had a return on equity of 10.91% and a net margin of 24.83%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 EPS. On average, analysts predict that PNC Financial Services Group Inc will post 11.47 earnings per share for the current year.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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