PNC Financial Services Group Inc. Acquires 9,279 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• PNC Financial Services Group Inc. increased its stake in The PNC Financial Services Group by 0.6% in the fourth quarter, buying 9,279 shares and bringing its total holding to 1,469,922 shares valued at about $306.8 million.
• CEO William S. Demchak sold 50,000 shares on February 20 for about $11.54 million, leaving him with 554,274 shares and reducing his position by 8.27%.
• PNC recently beat earnings expectations with Q1 EPS of $4.32 versus the $3.92 consensus and continues to attract bullish analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $243.11.

PNC Financial Services Group Inc. lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,469,922 shares of the financial services provider's stock after buying an additional 9,279 shares during the period. PNC Financial Services Group Inc. owned about 0.37% of The PNC Financial Services Group worth $306,817,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of The PNC Financial Services Group by 1.1% in 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 buying an additional 408,464 shares during the last quarter. State Street Corp increased its holdings in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. State Street Corp now owns 17,242,132 shares of the financial services provider's stock worth $3,464,462,000 after buying an additional 85,291 shares during the last quarter. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 6.0% in the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider's stock worth $2,177,318,000 after buying an additional 609,755 shares during the last quarter. Viking Global Investors LP boosted its stake in shares of The PNC Financial Services Group by 234.9% during the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider's stock worth $1,598,753,000 after purchasing an additional 5,581,102 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of The PNC Financial Services Group by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider's stock worth $889,297,000 after purchasing an additional 1,086,941 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 50,000 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the sale, the chief executive officer owned 554,274 shares in the company, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company's stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $213.24 on Wednesday. The stock has a market cap of $85.63 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 0.89 and a beta of 0.94. 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 1 year low of $169.32 and a 1 year high of $243.94. The firm has a 50-day moving average of $213.63 and a two-hundred day moving average of $211.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The company 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 firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.51 EPS. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group's payout ratio is currently 39.51%.

Analyst Ratings Changes

A number of research firms recently commented on PNC. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 20th. Barclays lifted 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. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a "buy" rating and a $250.00 price target for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, Morgan Stanley lifted their price target 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. One investment 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $243.11.

The PNC Financial Services Group 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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