Clark Capital Management Group Inc. lifted its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 4.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 312,786 shares of the financial services provider’s stock after purchasing an additional 12,428 shares during the period. PNC Financial Services Group makes up approximately 1.4% of Clark Capital Management Group Inc.’s holdings, making the stock its 15th largest holding. Clark Capital Management Group Inc.’s holdings in PNC Financial Services Group were worth $45,132,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Truewealth LLC purchased a new position in PNC Financial Services Group during the fourth quarter worth about $107,000. Crewe Advisors LLC purchased a new position in PNC Financial Services Group during the fourth quarter worth about $134,000. Resources Investment Advisors Inc. raised its stake in PNC Financial Services Group by 130.7% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 600 shares during the period. Capital Guardian Trust Co. purchased a new position in PNC Financial Services Group during the third quarter worth about $154,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in PNC Financial Services Group during the fourth quarter worth about $157,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

Shares of PNC Financial Services Group Inc (NYSE PNC) traded down $0.44 during mid-day trading on Wednesday, hitting $160.05. 275,785 shares of the company were exchanged, compared to its average volume of 2,282,902. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $76,520.26, a PE ratio of 15.43, a P/E/G ratio of 1.51 and a beta of 0.90. PNC Financial Services Group Inc has a 52-week low of $115.25 and a 52-week high of $163.59.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.51%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.97 earnings per share. equities analysts forecast that PNC Financial Services Group Inc will post 10.44 earnings per share for the current fiscal year.

PNC has been the topic of a number of analyst reports. ValuEngine downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a research note on Tuesday, December 26th. Royal Bank of Canada lifted their target price on shares of PNC Financial Services Group to $170.00 and gave the stock an “average” rating in a research note on Friday, January 12th. Barclays lifted their target price on shares of PNC Financial Services Group from $139.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Goldman Sachs Group downgraded shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Nineteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $146.89.

In related news, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total value of $1,235,296.20. Following the completion of the transaction, the insider now owns 58,820 shares in the company, valued at $9,070,044. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Q. Reilly sold 19,576 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the completion of the transaction, the insider now owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Clark Capital Management Group Inc. Boosts Stake in PNC Financial Services Group Inc (PNC)” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2018/03/14/clark-capital-management-group-inc-boosts-stake-in-pnc-financial-services-group-inc-pnc.html.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.