LS Investment Advisors LLC Has $2.47 Million Holdings in PNC Financial Services (PNC)

LS Investment Advisors LLC cut its position in shares of PNC Financial Services (NYSE:PNC) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,352 shares of the financial services provider’s stock after selling 671 shares during the quarter. LS Investment Advisors LLC’s holdings in PNC Financial Services were worth $2,473,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PNC. BlackRock Inc. lifted its stake in PNC Financial Services by 1.5% during the fourth quarter. BlackRock Inc. now owns 28,181,864 shares of the financial services provider’s stock valued at $4,066,361,000 after buying an additional 402,904 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in PNC Financial Services by 539.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 423,671 shares of the financial services provider’s stock valued at $61,131,000 after buying an additional 357,466 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in PNC Financial Services by 114.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 660,136 shares of the financial services provider’s stock valued at $95,251,000 after buying an additional 352,636 shares in the last quarter. Discovery Capital Management LLC CT purchased a new stake in PNC Financial Services during the fourth quarter valued at about $37,421,000. Finally, Millennium Management LLC lifted its stake in PNC Financial Services by 537.7% during the fourth quarter. Millennium Management LLC now owns 292,243 shares of the financial services provider’s stock valued at $42,168,000 after buying an additional 246,414 shares in the last quarter. 82.86% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on PNC. Bank of America upped their target price on PNC Financial Services from $166.00 to $168.00 and gave the company a “buy” rating in a report on Friday, May 4th. Wells Fargo set a $157.00 target price on PNC Financial Services and gave the company a “hold” rating in a report on Tuesday, January 16th. Argus upped their target price on PNC Financial Services to $170.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Susquehanna Bancshares set a $147.00 target price on PNC Financial Services and gave the company a “hold” rating in a report on Tuesday, April 10th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services in a report on Thursday, January 25th. Nineteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $149.36.

PNC Financial Services opened at $150.35 on Tuesday, Marketbeat.com reports. PNC Financial Services has a 52 week low of $150.20 and a 52 week high of $151.86. The company has a market capitalization of $70.88 billion, a P/E ratio of 16.81, a PEG ratio of 1.42 and a beta of 0.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.92 and a current ratio of 0.93.

PNC Financial Services (NYSE:PNC) last released its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.01. PNC Financial Services had a return on equity of 9.82% and a net margin of 29.85%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. sell-side analysts anticipate that PNC Financial Services will post 10.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, May 5th. Investors of record on Monday, April 16th were issued a $0.75 dividend. The ex-dividend date was Friday, April 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.00%. PNC Financial Services’s dividend payout ratio is currently 35.29%.

PNC Financial Services Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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 (NYSE:PNC)

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