PNC Financial Services Group Inc (NYSE:PNC) Stake Lifted by Capital International Investors

Capital International Investors increased its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,495,158 shares of the financial services provider’s stock after buying an additional 1,270,949 shares during the quarter. Capital International Investors owned about 2.81% of PNC Financial Services Group worth $1,994,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alliancebernstein L.P. lifted its holdings in shares of PNC Financial Services Group by 23.3% during the fourth quarter. Alliancebernstein L.P. now owns 4,009,450 shares of the financial services provider’s stock valued at $640,029,000 after purchasing an additional 757,348 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of PNC Financial Services Group by 202.8% in the fourth quarter. AQR Capital Management LLC now owns 976,912 shares of the financial services provider’s stock valued at $155,945,000 after purchasing an additional 654,319 shares in the last quarter. Bank of America Corp DE increased its position in shares of PNC Financial Services Group by 4.2% in the fourth quarter. Bank of America Corp DE now owns 6,964,906 shares of the financial services provider’s stock valued at $1,111,808,000 after acquiring an additional 278,069 shares during the last quarter. M&G Investment Management Ltd. acquired a new stake in shares of PNC Financial Services Group in the fourth quarter valued at about $32,785,000. Finally, Raymond James & Associates increased its position in shares of PNC Financial Services Group by 13.6% in the fourth quarter. Raymond James & Associates now owns 1,287,204 shares of the financial services provider’s stock valued at $205,477,000 after acquiring an additional 154,476 shares during the last quarter. Hedge funds and other institutional investors own 82.60% of the company’s stock.

A number of analysts recently issued reports on PNC shares. UBS Group lowered their target price on PNC Financial Services Group from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Bank of America upgraded shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $144.00 to $178.00 in a research note on Thursday, January 9th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research note on Thursday, February 27th. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Barclays reissued a “hold” rating and issued a $181.00 price target on shares of PNC Financial Services Group in a report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $149.73.

PNC stock traded up $5.34 during midday trading on Thursday, reaching $97.39. 1,375,790 shares of the company’s stock traded hands, compared to its average volume of 4,286,080. The stock’s 50-day moving average is $127.85 and its 200 day moving average is $144.00. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04. The stock has a market cap of $38.66 billion, a P/E ratio of 8.54, a PEG ratio of 1.00 and a beta of 1.19. PNC Financial Services Group Inc has a 52-week low of $79.41 and a 52-week high of $161.79.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $2.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.05. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.48 billion. PNC Financial Services Group had a net margin of 24.83% and a return on equity of 10.91%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.75 earnings per share. As a group, research analysts expect that PNC Financial Services Group Inc will post 11.47 EPS for the current fiscal year.

In other PNC Financial Services Group news, Director Charles E. Bunch acquired 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $153.11 per share, for a total transaction of $153,110.00. Following the completion of the transaction, the director now directly owns 4,781 shares of the company’s stock, valued at $732,018.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Q. Reilly sold 10,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $154.50, for a total transaction of $1,545,000.00. Following the transaction, the executive vice president now owns 114,767 shares of the company’s stock, valued at approximately $17,731,501.50. The disclosure for this sale can be found here. Insiders have purchased 21,302 shares of company stock valued at $2,153,135 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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