Janus Henderson Group PLC Purchases 259,027 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Janus Henderson Group PLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 18.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,632,643 shares of the financial services provider's stock after buying an additional 259,027 shares during the period. Janus Henderson Group PLC owned approximately 0.41% of The PNC Financial Services Group worth $314,893,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $1,352,151,000. Schroder Investment Management Group boosted its holdings in shares of The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after buying an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA increased its position in The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after acquiring an additional 726,115 shares during the period. Bank of New York Mellon Corp raised its stake in shares of The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after buying an additional 710,311 shares in the last quarter. Finally, Northern Trust Corp grew its position in The PNC Financial Services Group by 14.9% in the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after acquiring an additional 608,375 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stephens reaffirmed an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada dropped their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods cut their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. Finally, Morgan Stanley cut their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded up $1.79 during midday trading on Thursday, hitting $179.64. The company's stock had a trading volume of 2,728,847 shares, compared to its average volume of 2,041,376. The company has a 50-day moving average price of $164.57 and a two-hundred day moving average price of $186.36. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a market cap of $71.06 billion, a price-to-earnings ratio of 13.06, a PEG 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $166.79, for a total value of $207,153.18. Following the transaction, the chief executive officer now owns 557,363 shares in the company, valued at approximately $92,962,574.77. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,396 shares of company stock valued at $2,789,603. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Company 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.