Healthcare of Ontario Pension Plan Trust Fund Has $49.50 Million Stake in The PNC Financial Services Group, Inc $PNC

Healthcare of Ontario Pension Plan Trust Fund reduced its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 73.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,867 shares of the financial services provider’s stock after selling 642,735 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in The PNC Financial Services Group were worth $49,498,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group in the fourth quarter valued at about $25,000. Quarry LP acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $29,000. Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC boosted its stake in The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,300 shares of company stock valued at $10,694,574 over the last ninety days. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.5%

NYSE PNC opened at $250.59 on Friday. The stock’s 50 day simple moving average is $236.91 and its 200 day simple moving average is $224.87. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $256.49. The firm has a market cap of $100.63 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The firm had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.85 EPS. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio is 44.03%.

Analysts Set New Price Targets

Several research analysts have issued reports on PNC shares. JPMorgan Chase & Co. increased their price objective on The PNC Financial Services Group from $238.00 to $264.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Stephens upped their target price on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Citigroup increased their target price on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $265.48.

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.