Russell Investments Group Ltd. Increases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Russell Investments Group Ltd. raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 266,124 shares of the financial services provider’s stock after purchasing an additional 10,924 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of The PNC Financial Services Group worth $39,819,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC grew its stake in The PNC Financial Services Group by 1.1% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,608 shares of the financial services provider’s stock valued at $885,000 after purchasing an additional 61 shares during the last quarter. Magnus Financial Group LLC grew its stake in The PNC Financial Services Group by 2.7% during the 2nd quarter. Magnus Financial Group LLC now owns 2,319 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 62 shares during the last quarter. Calamos Wealth Management LLC grew its stake in The PNC Financial Services Group by 3.6% during the 3rd quarter. Calamos Wealth Management LLC now owns 1,820 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 64 shares during the last quarter. Accurate Wealth Management LLC grew its stake in The PNC Financial Services Group by 1.1% during the 2nd quarter. Accurate Wealth Management LLC now owns 6,190 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 66 shares during the last quarter. Finally, Tevis Investment Management grew its stake in The PNC Financial Services Group by 21.4% during the 2nd quarter. Tevis Investment Management now owns 375 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 82.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on The PNC Financial Services Group from $191.00 to $171.50 in a report on Tuesday, October 11th. Credit Suisse Group decreased their price objective on The PNC Financial Services Group from $170.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, January 19th. Deutsche Bank Aktiengesellschaft raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price objective for the company from $200.00 to $190.00 in a report on Friday, January 6th. Barclays decreased their price objective on The PNC Financial Services Group from $222.00 to $218.00 and set an “overweight” rating for the company in a report on Tuesday, January 3rd. Finally, UBS Group cut The PNC Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $190.00 to $176.00 in a report on Tuesday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $180.41.

Insider Activity

In related news, CEO William S. Demchak purchased 6,550 shares of the company’s stock in a transaction dated Friday, January 20th. The stock was acquired at an average cost of $153.38 per share, for a total transaction of $1,004,639.00. Following the completion of the transaction, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at $74,070,883.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak purchased 6,550 shares of the company’s stock in a transaction dated Friday, January 20th. The stock was acquired at an average cost of $153.38 per share, for a total transaction of $1,004,639.00. Following the completion of the transaction, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at $74,070,883.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Guild Deborah sold 2,833 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total value of $452,316.78. Following the completion of the sale, the executive vice president now owns 20,527 shares of the company’s stock, valued at $3,277,340.82. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $158.42 on Wednesday. The business has a 50 day simple moving average of $158.85 and a two-hundred day simple moving average of $159.77. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $214.50. The stock has a market capitalization of $63.89 billion, a P/E ratio of 11.42, a PEG ratio of 2.31 and a beta of 1.16. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.79 and a quick ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its earnings results on Wednesday, January 18th. The financial services provider reported $3.49 EPS for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The PNC Financial Services Group had a net margin of 25.73% and a return on equity of 12.88%. The firm had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company earned $2.86 EPS. The PNC Financial Services Group’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 14.94 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, January 13th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.79%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.26%.

The PNC Financial Services Group Profile

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. 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.