Canada Pension Plan Investment Board Buys 2,400 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Canada Pension Plan Investment Board raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,560 shares of the financial services provider’s stock after acquiring an additional 2,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of The PNC Financial Services Group worth $35,304,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PNC. State Street Corp boosted its position in shares of The PNC Financial Services Group by 1.0% in the 2nd quarter. State Street Corp now owns 17,127,040 shares of the financial services provider’s stock worth $2,157,151,000 after purchasing an additional 170,387 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake 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 buying an additional 860,489 shares during the last quarter. Capital International Investors boosted its holdings in The PNC Financial Services Group by 615.1% in the second quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock worth $1,086,142,000 after acquiring an additional 7,417,830 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 2.1% during the second quarter. Geode Capital Management LLC now owns 7,369,554 shares of the financial services provider’s stock worth $925,399,000 after acquiring an additional 150,470 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after acquiring an additional 1,045,055 shares in the last quarter. 80.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, January 3rd. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research note on Tuesday, December 19th. Stephens restated an “equal weight” rating and issued a $138.00 price objective on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. UBS Group upped their target price 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. Finally, Piper Sandler raised their price target on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, December 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $146.59.

Check Out Our Latest Analysis on PNC

Insider Transactions at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,533 shares of The PNC Financial Services Group stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $132.51, for a total value of $203,137.83. Following the sale, the executive vice president now owns 17,092 shares of the company’s stock, valued at approximately $2,264,860.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $147.77 on Friday. The stock has a market cap of $58.86 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.72 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a fifty day moving average price of $149.87 and a 200 day moving average price of $132.51. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $161.77.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.29 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

The PNC Financial Services Group Company Profile

(Free Report)

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 certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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