Capital Research Global Investors Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital Research Global Investors increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 19.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,766,157 shares of the financial services provider’s stock after purchasing an additional 778,264 shares during the period. Capital Research Global Investors’ holdings in The PNC Financial Services Group were worth $738,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Steph & Co. boosted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after buying an additional 67 shares in the last quarter. Bangor Savings Bank boosted its holdings in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after buying an additional 69 shares in the last quarter. Oakworth Capital Inc. boosted its stake in The PNC Financial Services Group by 11.7% in the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 75 shares in the last quarter. Caprock Group LLC boosted its stake in The PNC Financial Services Group by 0.9% in the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after purchasing an additional 79 shares in the last quarter. Finally, RMR Wealth Builders boosted its stake in The PNC Financial Services Group by 1.2% in the 4th quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PNC shares. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Evercore ISI lowered their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Bank of America lifted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $157.02.

Check Out Our Latest Stock Report on PNC

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded up $0.44 during trading on Wednesday, hitting $154.60. 1,219,082 shares of the stock traded hands, compared to its average volume of 1,950,544. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market cap of $61.52 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 2.99 and a beta of 1.16. The company has a fifty day moving average price of $155.98 and a two-hundred day moving average price of $150.68. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.98 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insider Buying and Selling

In related news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by insiders.

About The PNC Financial Services Group

(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 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.

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

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