The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Man Group plc

Man Group plc boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 70.3% in the 4th quarter, HoldingsChannel reports. The firm owned 20,234 shares of the financial services provider’s stock after purchasing an additional 8,353 shares during the period. Man Group plc’s holdings in The PNC Financial Services Group were worth $3,902,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $299,864,000. Schroder Investment Management Group increased its stake in shares of The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after acquiring an additional 860,554 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after acquiring an additional 726,115 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after acquiring an additional 710,311 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares of the company’s stock, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the completion of the transaction, the chief executive officer now directly owns 556,121 shares in the company, valued at approximately $99,623,515.94. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,638 shares of company stock worth $3,012,095 in the last 90 days. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

PNC has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. TD Cowen started coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They set a “buy” rating and a $233.00 price objective for the company. Keefe, Bruyette & Woods decreased their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Finally, Morgan Stanley decreased their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.67.

The PNC Financial Services Group Stock Down 2.9%

NYSE PNC opened at $172.34 on Thursday. The stock has a market cap of $68.17 billion, a PE ratio of 12.53, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The business has a 50 day moving average price of $165.18 and a two-hundred day moving average price of $185.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

The PNC Financial Services Group Profile

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.