Telemus Capital LLC Boosts Position in PNC Financial Services Group Inc (NYSE:PNC)

Telemus Capital LLC raised its stake in PNC Financial Services Group Inc (NYSE:PNC) by 56.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,398 shares of the financial services provider’s stock after acquiring an additional 3,033 shares during the quarter. Telemus Capital LLC’s holdings in PNC Financial Services Group were worth $1,212,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PNC. Tower Research Capital LLC TRC lifted its holdings in shares of PNC Financial Services Group by 12.5% in the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 91 shares during the last quarter. Atlantic Trust LLC bought a new position in shares of PNC Financial Services Group in the second quarter worth about $129,000. Legacy Advisors LLC bought a new position in shares of PNC Financial Services Group in the third quarter worth about $136,000. Quadrant Capital Group LLC lifted its holdings in shares of PNC Financial Services Group by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 4 shares during the last quarter. Finally, Resources Investment Advisors Inc. lifted its holdings in shares of PNC Financial Services Group by 130.7% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 600 shares during the last quarter. 82.24% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. Piper Jaffray Companies raised their price objective on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Morgan Stanley raised their price objective on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating on shares of PNC Financial Services Group in a report on Monday, October 16th. BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services Group in a report on Thursday, January 25th. Finally, UBS Group raised their price objective on shares of PNC Financial Services Group from $133.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, October 16th. Eighteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $145.98.

In other news, insider E William Parsley III sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total transaction of $3,467,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Hannon sold 8,011 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the sale, the insider now directly owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,894 shares of company stock valued at $14,897,513. Company insiders own 0.43% of the company’s stock.

PNC Financial Services Group Inc (NYSE:PNC) traded up $2.33 during trading on Friday, reaching $151.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. PNC Financial Services Group Inc has a 52 week low of $115.25 and a 52 week high of $160.07. The firm has a market capitalization of $72,180.00, a PE ratio of 14.55, a PEG ratio of 1.42 and a beta of 0.93.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the business earned $1.97 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. equities analysts expect that PNC Financial Services Group Inc will post 10.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, January 16th. This represents a $3.00 annualized dividend and a yield of 1.98%. PNC Financial Services Group’s payout ratio is 28.76%.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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