Vanguard Group Inc. Grows Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Vanguard Group raised its stake in The PNC Financial Services Group by 1.1% in Q4 and now owns 38,873,991 shares — about 9.91% of the company valued at roughly $8.11 billion.
• CEO William S. Demchak sold 50,000 shares for about $11.54 million, and insiders sold 64,186 shares totaling $14.84 million over the quarter, leaving company insiders with just 0.38% ownership.
• PNC beat EPS expectations with $4.32 vs. $3.92 and announced a $1.70 quarterly dividend (3.1% yield); analysts' consensus is a "Moderate Buy" with an average target price of $241.69.

Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,873,991 shares of the financial services provider's stock after acquiring an additional 408,464 shares during the period. Vanguard Group Inc. owned 9.91% of The PNC Financial Services Group worth $8,114,168,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Brighton Jones LLC boosted its holdings in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after buying an additional 984 shares in the last quarter. Empowered Funds LLC grew its position in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider's stock valued at $1,452,000 after buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC raised its stake in The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider's stock worth $807,000 after acquiring an additional 1,449 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in The PNC Financial Services Group by 1.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider's stock worth $34,409,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the second quarter valued at $482,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 50,000 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the sale, the chief executive officer directly owned 554,274 shares of the company's stock, valued at $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of The PNC Financial Services Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares in the company, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 64,186 shares of company stock valued at $14,840,973. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PNC shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, January 20th. TD Cowen upped their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods raised their price target on 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. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $241.69.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $219.97 on Monday. The company has a 50-day simple moving average of $214.70 and a 200-day simple moving average of $207.64. The PNC Financial Services Group, Inc has a one year low of $156.70 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $88.73 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.91 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.92 by $0.40. The firm 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 business's revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $3.51 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is 39.51%.

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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