85,500 Shares in The PNC Financial Services Group, Inc $PNC Bought by Employees Provident Fund Board

Employees Provident Fund Board bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 4th quarter, Holdings Channel.com reports. The firm bought 85,500 shares of the financial services provider’s stock, valued at approximately $17,846,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares during the last quarter. State Street Corp lifted its holdings in The PNC Financial Services Group by 0.4% in the fourth quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock worth $3,615,085,000 after acquiring an additional 77,302 shares during the last quarter. Capital International Investors boosted its position in The PNC Financial Services Group by 10.2% during the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after purchasing an additional 1,101,055 shares during the period. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $1,967,080,000. Finally, Geode Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock valued at $1,841,387,000 after purchasing an additional 30,078 shares during the period. 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 Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,300 shares of company stock worth $10,694,574 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $232.39 on Friday. The firm has a market capitalization of $93.32 billion, a PE ratio of 13.50, a PEG ratio of 0.95 and a beta of 0.92. The firm’s fifty day simple moving average is $222.68 and its 200 day simple moving average is $217.55. The PNC Financial Services Group, Inc has a 1 year low of $176.16 and a 1 year high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company posted $3.51 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PNC shares. Oppenheimer raised their price target on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Citigroup increased their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $246.72.

The PNC Financial Services Group Company Profile

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.