Eurizon Capital SGR S.p.A. Invests $35.12 Million in The PNC Financial Services Group, Inc $PNC

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in The PNC Financial Services Group during the fourth quarter, buying 168,239 shares worth about $35.1 million.
• PNC continues to draw broad institutional interest, with hedge funds and other investors holding 83.53% of the company’s stock.
• Analysts remain mostly positive on PNC, with a consensus rating of “Moderate Buy” and an average price target of $243.11; the stock also recently beat earnings expectations and pays a 3.1% dividend yield.

Eurizon Capital SGR S.p.A. purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 168,239 shares of the financial services provider's stock, valued at approximately $35,124,000.

Several other hedge funds also recently modified their holdings of PNC. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $25,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $35,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $37,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $39,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of The PNC Financial Services Group by 2,100.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider's stock worth $39,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PNC shares. Bank of America raised their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Royal Bank Of Canada reiterated 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. Citigroup raised their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Jefferies Financial Group started 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 on the stock. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.11.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company's stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $221.36 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a fifty-two week low of $170.49 and a fifty-two week high of $243.94. The firm has a fifty day moving average price of $216.27 and a two-hundred day moving average price of $213.05. The company has a market cap of $88.89 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the firm earned $3.51 EPS. The business's revenue was up 13.1% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group's dividend payout ratio is 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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