ProShare Advisors LLC Has $17.49 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

ProShare Advisors LLC boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 6.1% during the fourth quarter, HoldingsChannel reports. The fund owned 83,807 shares of the financial services provider’s stock after purchasing an additional 4,790 shares during the quarter. ProShare Advisors LLC’s holdings in The PNC Financial Services Group were worth $17,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after purchasing an additional 408,464 shares during the period. State Street Corp increased its holdings in The PNC Financial Services Group by 0.5% in the third quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock valued at $3,464,462,000 after purchasing an additional 85,291 shares during the period. Capital International Investors raised its position in The PNC Financial Services Group by 6.0% during the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock worth $2,177,318,000 after purchasing an additional 609,755 shares during the last quarter. Viking Global Investors LP raised its position in 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 purchasing an additional 5,581,102 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in The PNC Financial Services Group by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider’s stock worth $889,297,000 after buying an additional 1,086,941 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the sale, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PNC. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Keefe, Bruyette & Woods lifted 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 note on Thursday, April 16th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price on the stock. Bank of America increased their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Oppenheimer raised their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Stock Up 1.7%

Shares of The PNC Financial Services Group stock opened at $216.96 on Thursday. The stock’s 50-day moving average is $213.87 and its 200 day moving average is $211.44. The PNC Financial Services Group, Inc has a one year low of $169.32 and a one year high of $243.94. The firm has a market cap of $87.13 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.88 and a beta of 0.94. 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 PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.51 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

About The PNC Financial Services Group

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.