Fideuram Asset Management Ireland dac Invests $1.16 Million in The PNC Financial Services Group, Inc $PNC

Key Points

• Fideuram Asset Management Ireland dac initiated a new position in PNC Financial Services, buying 5,566 shares valued at about $1.16 million in the fourth quarter.
• PNC reported strong quarterly earnings, posting EPS of $4.32 versus the $3.92 expected, while revenue rose 13.1% year over year to $6.17 billion.
• The company also paid a quarterly dividend of $1.70 per share and drew mostly bullish analyst sentiment, with Wall Street’s average rating at Moderate Buy and a consensus price target of $243.11.

Fideuram Asset Management Ireland dac purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,566 shares of the financial services provider's stock, valued at approximately $1,162,000.

Several other hedge funds have also recently modified their holdings of the business. Cvfg LLC lifted its position in shares of The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider's stock worth $366,000 after purchasing an additional 43 shares during the period. YANKCOM Partnership raised its stake in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after acquiring an additional 46 shares in the last quarter. Westfuller Advisors LLC raised its stake in shares of The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock worth $45,000 after acquiring an additional 46 shares in the last quarter. Flavin Financial Services Inc. raised its stake in shares of The PNC Financial Services Group by 0.4% during the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider's stock worth $2,847,000 after acquiring an additional 48 shares in the last quarter. Finally, Almanack Investment Partners LLC. raised its stake in shares of The PNC Financial Services Group by 2.2% during the 4th quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider's stock worth $490,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 0.7%

Shares of The PNC Financial Services Group stock opened at $221.36 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12-month low of $170.49 and a 12-month high of $243.94. The firm has a market capitalization of $88.89 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.91 and a beta of 0.94. The firm's 50 day simple moving average is $216.27 and its two-hundred day simple moving average is $213.05.

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 (EPS) 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 business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 EPS. The PNC Financial Services Group's revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts predict 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 paid 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 3.1%. The PNC Financial Services Group's dividend payout ratio is presently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group 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 transaction of $9,925,650.00. Following the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average price target of $243.11.

About The PNC Financial Services Group

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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