Raiffeisen Bank International AG Acquires New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Raiffeisen Bank International AG acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,110 shares of the financial services provider’s stock, valued at approximately $4,834,000.

A number of other institutional investors have also made changes to their positions in the stock. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. increased its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $179.64 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $71.06 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.55 and a beta of 1.06. The business’s fifty day moving average is $164.67 and its two-hundred day moving average is $186.29. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company’s stock, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $192.45, for a total value of $239,022.90. Following the transaction, the chief executive officer now directly owns 571,025 shares in the company, valued at $109,893,761.25. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,396 shares of company stock valued at $2,789,603. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Citigroup dropped their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Morgan Stanley decreased their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Wells Fargo & Company reduced their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Royal Bank of Canada reduced their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.67.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.