Candriam S.C.A. Buys 12,540 Shares of The PNC Financial Services Group, Inc $PNC

Candriam S.C.A. grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 8.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 168,890 shares of the financial services provider’s stock after acquiring an additional 12,540 shares during the quarter. Candriam S.C.A.’s holdings in The PNC Financial Services Group were worth $35,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $1,967,080,000. Viking Global Investors LP lifted its holdings in shares of The PNC Financial Services Group by 234.9% during the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after acquiring an additional 5,581,102 shares during the period. Corient Private Wealth LLC boosted its position in shares of The PNC Financial Services Group by 961.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock worth $549,023,000 after acquiring an additional 2,382,552 shares in the last quarter. Deutsche Bank AG increased its stake in The PNC Financial Services Group by 108.2% in the fourth quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock valued at $800,884,000 after acquiring an additional 1,994,431 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in The PNC Financial Services Group by 50.1% during the third quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after purchasing an additional 1,162,964 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Stephens started coverage on The PNC Financial Services Group in a report on Monday, June 15th. They issued an “overweight” rating and a $265.00 target price on the stock. Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on 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. UBS Group raised their price objective on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Citigroup lifted their target price on The PNC Financial Services Group from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.09.

The PNC Financial Services Group Trading Up 0.4%

The PNC Financial Services Group stock traded up $1.07 during trading hours on Friday, hitting $251.99. The stock had a trading volume of 2,892,810 shares, compared to its average volume of 2,235,505. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $256.00. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $101.19 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.03 and a beta of 0.91. The business’s 50 day simple moving average is $229.90 and its 200-day simple moving average is $222.05.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly 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 analyst estimates of $6.21 billion. During the same quarter in the previous year, the business earned $3.51 earnings per share. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 18.83 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $2.00 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

The PNC Financial Services Group 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.