The PNC Financial Services Group, Inc $PNC Shares Acquired by Capital International Inc. CA

Capital International Inc. CA grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 38.4% during the 4th quarter, Holdings Channel reports. The firm owned 43,914 shares of the financial services provider’s stock after purchasing an additional 12,173 shares during the quarter. Capital International Inc. CA’s holdings in The PNC Financial Services Group were worth $9,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital International Investors boosted its position in The PNC Financial Services Group by 10.2% during the fourth quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock worth $2,491,819,000 after acquiring an additional 1,101,055 shares during the last quarter. Modus Advisors LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $29,000. Comprehensive Financial Planning Inc. PA boosted its position in The PNC Financial Services Group by 72.3% during the fourth quarter. Comprehensive Financial Planning Inc. PA now owns 941 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 395 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its position in The PNC Financial Services Group by 10.8% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,273 shares of the financial services provider’s stock worth $892,000 after acquiring an additional 417 shares during the last quarter. Finally, Havemeyer Place LP acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $431,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on PNC. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Bank of America lifted their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

Insider Activity

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $228.76 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm’s 50-day moving average is $218.12 and its two-hundred day moving average is $214.61. The PNC Financial Services Group, Inc has a 12 month low of $172.73 and a 12 month high of $243.94. The company has a market capitalization of $91.86 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm earned $3.51 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc will post 18.93 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 Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is 39.51%.

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.