Schroder Investment Management Group Raises Stock Holdings in The PNC Financial Services Group, Inc $PNC

Schroder Investment Management Group boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 19.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,399,430 shares of the financial services provider’s stock after purchasing an additional 232,167 shares during the quarter. Schroder Investment Management Group’s holdings in The PNC Financial Services Group were worth $281,187,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC lifted its position in 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 period. Sivia Capital Partners LLC boosted its stake in The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 1,449 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in The PNC Financial Services Group in the second quarter worth about $427,000. Finally, AE Wealth Management LLC increased its stake in shares of The PNC Financial Services Group by 41.6% during the second quarter. AE Wealth Management LLC now owns 12,902 shares of the financial services provider’s stock valued at $2,405,000 after purchasing an additional 3,788 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Barclays upped their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Oppenheimer boosted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Morgan Stanley increased their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada increased their price objective on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

The PNC Financial Services Group Stock Down 2.9%

PNC stock opened at $206.26 on Monday. The stock has a market capitalization of $83.20 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.86 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $243.94. The business has a fifty day moving average price of $222.17 and a 200-day moving average price of $205.18.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period last year, the firm posted $3.77 earnings per share. The PNC Financial Services Group’s revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares in the company, valued at $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. This represents a 79.23% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 64,186 shares of company stock worth $14,840,973. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group 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.