The PNC Financial Services Group, Inc $PNC Shares Purchased by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 106.3% during the third quarter, HoldingsChannel reports. The firm owned 51,574 shares of the financial services provider’s stock after buying an additional 26,572 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in The PNC Financial Services Group were worth $10,410,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in The PNC Financial Services Group by 32.2% during 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 boosted its stake in shares of 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 buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in The PNC Financial Services Group by 50.3% during the 2nd 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. Optas LLC increased its position in shares of The PNC Financial Services Group by 95.5% in the 2nd quarter. Optas LLC now owns 2,512 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in shares of The PNC Financial Services Group by 3.4% in the 2nd quarter. Maryland State Retirement & Pension System now owns 19,205 shares of the financial services provider’s stock valued at $3,580,000 after purchasing an additional 639 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.7%

Shares of NYSE:PNC opened at $242.53 on Friday. The company has a market cap of $95.11 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The firm has a 50 day simple moving average of $214.89 and a 200 day simple moving average of $200.51. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.77 EPS. As a group, research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Analysts Set New Price Targets

Several analysts have issued reports on PNC shares. Morgan Stanley upped their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” 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 stock an “outperform” rating in a report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $231.00.

The PNC Financial Services Group Company 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.