JPMorgan Chase & Co. Purchases 152,843 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

JPMorgan Chase & Co. grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,342,617 shares of the financial services provider’s stock after purchasing an additional 152,843 shares during the period. JPMorgan Chase & Co.’s holdings in The PNC Financial Services Group were worth $2,340,429,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of The PNC Financial Services Group by 2.6% in the first quarter. BlackRock Inc. now owns 27,381,364 shares of the financial services provider’s stock worth $4,802,964,000 after purchasing an additional 697,663 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of The PNC Financial Services Group by 9.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,391,754 shares of the financial services provider’s stock worth $3,932,371,000 after acquiring an additional 2,230,186 shares during the last quarter. FMR LLC lifted its position in The PNC Financial Services Group by 57.8% in the 4th quarter. FMR LLC now owns 8,399,370 shares of the financial services provider’s stock worth $1,251,506,000 after buying an additional 3,076,159 shares during the last quarter. Aristotle Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Aristotle Capital Management LLC now owns 5,826,993 shares of the financial services provider’s stock worth $868,222,000 after purchasing an additional 134,065 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $671,132,000. Institutional investors and hedge funds own 81.56% of the company’s stock.

PNC traded down $0.25 on Friday, reaching $188.50. 15,663 shares of the stock were exchanged, compared to its average volume of 1,874,021. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The PNC Financial Services Group, Inc. has a fifty-two week low of $97.09 and a fifty-two week high of $203.88. The stock has a market capitalization of $80.09 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 2.24 and a beta of 1.41. The firm’s 50-day moving average is $187.88.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 EPS for the quarter, beating the consensus estimate of $2.75 by $1.35. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.10 billion. The PNC Financial Services Group had a net margin of 47.97% and a return on equity of 7.54%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, April 15th. The PNC Financial Services Group’s payout ratio is presently 72.33%.

Several brokerages have recently commented on PNC. Deutsche Bank Aktiengesellschaft upped their price objective on shares of The PNC Financial Services Group from $157.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, April 1st. TheStreet raised The PNC Financial Services Group from a “c+” rating to a “b” rating in a research report on Friday, April 16th. Stephens boosted their price objective on shares of The PNC Financial Services Group from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Monday, April 19th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on The PNC Financial Services Group from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 20th. Finally, Raymond James upgraded shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a research note on Monday, May 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $179.30.

The PNC Financial Services Group 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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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