Barclays PLC (NYSE:BCS) Stake Boosted by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in Barclays PLC by 11.8% during the first quarter, acquiring an additional 13,030 shares, bringing its total to 123,492 shares valued at approximately $1.9 million.
• Several institutional investors have also invested in Barclays, including Bessemer Group Inc., which significantly increased its holding by 1,539.6% during the same period.
• Barclays reported $0.62 earnings per share in its latest quarterly results, surpassing the consensus estimate of $0.50, while also announcing a semi-annual dividend of $0.1557 to be paid on September 16th.

PNC Financial Services Group Inc. grew its stake in shares of Barclays PLC (NYSE:BCS - Free Report) by 11.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,492 shares of the financial services provider's stock after purchasing an additional 13,030 shares during the period. PNC Financial Services Group Inc.'s holdings in Barclays were worth $1,897,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Barclays by 485.0% in the 4th quarter. Bank of America Corp DE now owns 6,680,869 shares of the financial services provider's stock worth $88,789,000 after buying an additional 5,538,912 shares in the last quarter. Natixis Advisors LLC raised its stake in Barclays by 78.7% in the 1st quarter. Natixis Advisors LLC now owns 8,892,766 shares of the financial services provider's stock valued at $136,593,000 after purchasing an additional 3,917,785 shares during the last quarter. Deutsche Bank AG acquired a new position in Barclays in the 4th quarter valued at about $50,189,000. Marshall Wace LLP acquired a new position in Barclays in the 4th quarter valued at about $26,932,000. Finally, Duquesne Family Office LLC raised its stake in Barclays by 58.7% in the 4th quarter. Duquesne Family Office LLC now owns 3,186,855 shares of the financial services provider's stock valued at $42,353,000 after purchasing an additional 1,179,100 shares during the last quarter. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BCS has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Barclays in a research note on Wednesday, July 30th. Royal Bank Of Canada reissued an "outperform" rating on shares of Barclays in a research note on Wednesday, July 16th. Citigroup downgraded shares of Barclays from a "buy" rating to a "neutral" rating in a research note on Friday, July 18th. Finally, Wall Street Zen downgraded shares of Barclays from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Barclays Trading Up 1.7%

BCS traded up $0.35 on Tuesday, reaching $20.40. 10,968,374 shares of the company's stock were exchanged, compared to its average volume of 19,007,122. The company's 50 day moving average is $18.58 and its 200-day moving average is $16.65. The company has a market cap of $72.02 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.48 and a beta of 1.15. Barclays PLC has a twelve month low of $11.22 and a twelve month high of $20.43. The company has a debt-to-equity ratio of 5.70, a quick ratio of 1.38 and a current ratio of 1.38.

Barclays (NYSE:BCS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.12. The firm had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $7.06 billion. Barclays had a net margin of 22.11% and a return on equity of 8.49%. Equities analysts predict that Barclays PLC will post 2 earnings per share for the current year.

Barclays Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 8th will be issued a $0.1557 dividend. This represents a yield of 210.0%. The ex-dividend date is Friday, August 8th. Barclays's dividend payout ratio is currently 14.29%.

Barclays Company Profile

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.