Mackenzie Financial Corp Has $63.14 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mackenzie Financial Corp grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 327,387 shares of the financial services provider's stock after buying an additional 49,571 shares during the quarter. Mackenzie Financial Corp owned 0.08% of The PNC Financial Services Group worth $63,137,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. Whipplewood Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $33,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group in the fourth quarter worth about $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded down $0.82 on Friday, hitting $174.28. The company's stock had a trading volume of 528,985 shares, compared to its average volume of 2,047,509. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a market capitalization of $68.94 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day moving average of $165.13 and a 200-day moving average of $184.90.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Barclays cut their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods cut their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the acquisition, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,396 shares of company stock valued at $2,747,698 over the last quarter. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.