BI Asset Management Fondsmaeglerselskab A S Buys 29,121 Shares of The PNC Financial Services Group, Inc $PNC

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 159.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,341 shares of the financial services provider’s stock after acquiring an additional 29,121 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in The PNC Financial Services Group were worth $9,512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares in the last quarter. Empowered Funds LLC boosted its position in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after acquiring an additional 170 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 1,449 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of The PNC Financial Services Group by 4.1% in the second quarter. Wealthcare Advisory Partners LLC now owns 5,456 shares of the financial services provider’s stock valued at $1,017,000 after purchasing an additional 217 shares during the last quarter. Finally, Sax Wealth Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 26.2% in the second quarter. Sax Wealth Advisors LLC now owns 2,720 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 564 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PNC. Oppenheimer raised their target price on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. TD Cowen lifted their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Barclays increased their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

The PNC Financial Services Group Trading Up 0.5%

Shares of The PNC Financial Services Group stock opened at $238.40 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day simple moving average of $213.86 and a two-hundred day simple moving average of $200.19. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $240.37. The company has a market capitalization of $93.49 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.99 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.77 earnings per share. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

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.