World Investment Advisors Purchases 6,069 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• World Investment Advisors increased its stake in PNC by 123.5% in the fourth quarter, buying 6,069 additional shares and bringing its total holding to 10,984 shares worth about $2.29 million.
• PNC reported strong quarterly earnings of $4.32 per share, beating estimates by $0.40, while revenue rose 13.1% year over year to $6.17 billion.
• The company continues to offer a 3.2% dividend yield with a quarterly payout of $1.70 per share, even as several insiders sold stock and analysts maintained an overall Moderate Buy rating with a consensus price target of $243.11.

World Investment Advisors raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 123.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,984 shares of the financial services provider's stock after purchasing an additional 6,069 shares during the quarter. World Investment Advisors' holdings in The PNC Financial Services Group were worth $2,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Brighton Jones LLC increased its stake in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider's stock valued at $1,452,000 after acquiring an additional 170 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of 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 valued at $807,000 after acquiring an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of 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 valued at $34,409,000 after acquiring an additional 2,808 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $482,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

PNC opened at $213.17 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a market cap of $85.60 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.89 and a beta of 0.94. The company's 50 day moving average is $213.47 and its 200 day moving average is $210.57. The PNC Financial Services Group, Inc has a 12-month low of $169.32 and a 12-month high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm earned $3.51 earnings per share. The company's revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research 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 company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.2%. The PNC Financial Services Group's payout ratio is currently 39.51%.

Insider Activity

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president owned 1,942 shares of the company's stock, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. This represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 64,186 shares of company stock worth $14,840,973 over the last ninety days. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PNC. 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 raised their price target on shares of 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. Oppenheimer raised their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. 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 report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and a consensus price target of $243.11.

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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