Candriam S.C.A. Raises Stock Holdings in The PNC Financial Services Group, Inc $PNC

Candriam S.C.A. boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,811 shares of the financial services provider’s stock after purchasing an additional 13,321 shares during the quarter. Candriam S.C.A.’s holdings in The PNC Financial Services Group were worth $35,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PNC. IMG Wealth Management Inc. purchased a new position in The PNC Financial Services Group in the second quarter worth $27,000. Concord Wealth Partners lifted its stake in The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Westfuller Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth about $34,000. FNY Investment Advisers LLC bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $37,000. Finally, Bayforest Capital Ltd raised its holdings in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after buying an additional 147 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 0.6%

Shares of NYSE:PNC opened at $240.98 on Tuesday. The stock’s 50-day moving average is $215.86 and its 200 day moving average is $200.87. The company has a market cap of $94.50 billion, a PE ratio of 14.53, a P/E/G ratio of 1.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period last year, the company earned $3.77 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PNC shares. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada increased their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Morgan Stanley boosted their price target on shares of 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. Barclays raised their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.44.

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.