The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 46.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,618 shares of the financial services provider's stock after acquiring an additional 78,122 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of The PNC Financial Services Group worth $38,189,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC lifted its holdings in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider's stock worth $1,758,880,000 after purchasing an additional 893,808 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider's stock valued at $2,064,357,000 after acquiring an additional 860,489 shares during the period. Geode Capital Management LLC lifted its holdings in The PNC Financial Services Group by 2.4% in the first quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider's stock valued at $915,146,000 after acquiring an additional 171,876 shares during the period. Invesco Ltd. lifted its holdings in The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider's stock valued at $634,024,000 after acquiring an additional 484,475 shares during the period. Finally, Northern Trust Corp lifted its holdings in The PNC Financial Services Group by 2.0% in the third quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider's stock valued at $577,267,000 after acquiring an additional 93,636 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PNC. Morgan Stanley raised their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an "underweight" rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. UBS Group raised their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a "neutral" rating in a research report on Thursday, January 18th. Evercore ISI dropped their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group raised their price target on The PNC Financial Services Group from $164.00 to $171.00 and gave the company a "hold" rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $156.46.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares of the company's stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded up $0.71 during midday trading on Wednesday, reaching $147.25. 1,896,759 shares of the company were exchanged, compared to its average volume of 2,155,812. The firm's 50-day simple moving average is $151.80 and its 200-day simple moving average is $141.68. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a market capitalization of $58.58 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $3.98 EPS. The firm's quarterly revenue was down 8.2% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group's payout ratio is 48.48%.

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.