The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 106,739 shares of the financial services provider’s stock after purchasing an additional 3,897 shares during the period. DekaBank Deutsche Girozentrale’s holdings in The PNC Financial Services Group were worth $16,626,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PNC. Norges Bank acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $735,469,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 122,771.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after purchasing an additional 2,538,916 shares during the last quarter. Morgan Stanley grew its position in shares of The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after purchasing an additional 1,045,055 shares in the last quarter. FMR LLC increased its holdings in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in The PNC Financial Services Group by 7.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after buying an additional 860,489 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $160.96 on Tuesday. The company has a market cap of $64.03 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.80 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50-day moving average of $151.36 and a two-hundred day moving average of $140.34.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the business posted $3.49 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.46 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.85%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PNC. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a research note on Friday. Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 target price on the stock in a research note on Thursday, December 14th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Finally, Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $157.37.

About The PNC Financial Services Group

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.