Capital International Investors Has $2.49 Billion Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Capital International Investors increased its PNC stake by 10.2% in the fourth quarter, ending with 11.94 million shares valued at about $2.49 billion.
• PNC continues to draw heavy institutional interest, with major holders like Vanguard, State Street, Norges Bank, Geode, and Viking Global also adding or maintaining large positions; 83.53% of the stock is institutionally owned.
• The company recently beat earnings expectations, reporting $4.32 EPS versus the $3.92 estimate, and it also pays a 3.0% dividend yield after a $1.70 quarterly payout.

Capital International Investors boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,936,742 shares of the financial services provider's stock after purchasing an additional 1,101,055 shares during the period. Capital International Investors owned about 3.04% of The PNC Financial Services Group worth $2,491,819,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock worth $8,114,168,000 after acquiring an additional 408,464 shares during the last quarter. State Street Corp raised its stake in shares of The PNC Financial Services Group by 0.5% in the third quarter. State Street Corp now owns 17,242,132 shares of the financial services provider's stock worth $3,464,462,000 after acquiring an additional 85,291 shares during the last quarter. Norges Bank bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $1,967,080,000. Geode Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider's stock worth $1,841,387,000 after acquiring an additional 30,078 shares during the last quarter. Finally, Viking Global Investors LP raised its stake in shares of The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider's stock worth $1,598,753,000 after acquiring an additional 5,581,102 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a "buy" rating and a $250.00 target price for the company. Finally, Barclays boosted their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $243.11.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Up 0.7%

Shares of NYSE PNC opened at $228.76 on Friday. The stock has a market cap of $91.86 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.95 and a beta of 0.92. The firm has a 50 day moving average price of $218.12 and a 200 day moving average price of $214.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts' expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.51 earnings per share. Analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The PNC Financial Services Group's payout ratio is currently 39.51%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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