The PNC Financial Services Group, Inc $PNC Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 70.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,803 shares of the financial services provider’s stock after buying an additional 16,838 shares during the quarter. Intech Investment Management LLC’s holdings in The PNC Financial Services Group were worth $8,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Brighton Jones LLC increased its holdings in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC boosted its holdings in The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares in the last quarter. Sivia Capital Partners LLC grew its position in The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares during the period. World Investment Advisors increased its holdings in The PNC Financial Services Group by 3.2% in the second quarter. World Investment Advisors now owns 3,958 shares of the financial services provider’s stock valued at $738,000 after buying an additional 123 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of The PNC Financial Services Group by 24.7% in the second quarter. Arkadios Wealth Advisors now owns 13,409 shares of the financial services provider’s stock worth $2,500,000 after acquiring an additional 2,659 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 4.9%

PNC stock opened at $211.85 on Friday. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $243.94. The business’s 50-day moving average is $222.28 and its 200 day moving average is $204.35. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The stock has a market cap of $85.46 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.93 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.77 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were issued a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PNC shares. TD Cowen increased their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada upped their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares in the company, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 64,186 shares of company stock worth $14,840,973. Company insiders own 0.41% of the company’s stock.

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.