Interval Partners LP Has $48.52 Million Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Interval Partners LP boosted its PNC stake by 124.5% in the fourth quarter, ending with 232,466 shares worth about $48.5 million.
• PNC reported quarterly EPS of $4.32, topping analyst estimates, while revenue rose 13.1% year over year; the company also pays a quarterly dividend of $1.70 per share, or 2.9% annualized yield.
• Insiders have been selling shares recently, including an EVP and a director, while analysts remain generally bullish with a Moderate Buy consensus and an average price target of $246.72.

Interval Partners LP lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 124.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,466 shares of the financial services provider's stock after purchasing an additional 128,901 shares during the quarter. The PNC Financial Services Group makes up about 0.9% of Interval Partners LP's investment portfolio, making the stock its 24th largest position. Interval Partners LP owned 0.06% of The PNC Financial Services Group worth $48,523,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock worth $8,114,168,000 after purchasing an additional 408,464 shares in the last quarter. State Street Corp grew its holdings in shares of The PNC Financial Services Group by 0.4% during the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider's stock worth $3,615,085,000 after purchasing an additional 77,302 shares in the last quarter. Capital International Investors grew its holdings in shares of The PNC Financial Services Group by 10.2% during the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider's stock worth $2,491,819,000 after purchasing an additional 1,101,055 shares in the last quarter. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,967,080,000. Finally, Geode Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider's stock worth $1,841,387,000 after purchasing an additional 30,078 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $232.99 on Thursday. The stock's fifty day simple moving average is $222.07 and its 200 day simple moving average is $217.15. 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 firm has a market cap of $93.56 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 0.98 and a beta of 0.92. The PNC Financial Services Group, Inc has a one year low of $172.89 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.51 EPS. On average, analysts expect that The PNC Financial Services Group, Inc will post 18.79 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group's payout ratio is currently 39.51%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction 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 of the company's stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,300 shares of company stock valued at $10,694,574 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNC. Barclays lifted their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a "buy" rating and a $250.00 price objective on the stock. Citigroup lifted their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Finally, Stephens assumed coverage on The PNC Financial Services Group in a research note on Monday. They issued an "overweight" rating and a $265.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus target price of $246.72.

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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