Impax Asset Management Group plc Purchases 10,186 Shares of The PNC Financial Services Group, Inc $PNC

Impax Asset Management Group plc increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 176.7% during the 3rd quarter, Holdings Channel reports. The fund owned 15,949 shares of the financial services provider’s stock after acquiring an additional 10,186 shares during the period. Impax Asset Management Group plc’s holdings in The PNC Financial Services Group were worth $3,205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. Mirae Asset Global Investments Co. Ltd. raised its position in The PNC Financial Services Group by 12.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after buying an additional 6,572 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after purchasing an additional 22,325 shares during the period. National Pension Service raised its holdings in The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after purchasing an additional 26,305 shares during the period. Savant Capital LLC lifted its holdings in The PNC Financial Services Group by 8.7% during the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock valued at $17,672,000 after purchasing an additional 7,064 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $8,360,000. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Keefe, Bruyette & Woods lifted their price target 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. Finally, Barclays boosted 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. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $235.66 on Thursday. The company has a market cap of $92.42 billion, a P/E ratio of 14.21, a PEG ratio of 1.00 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average of $217.58 and a two-hundred day moving average of $201.42. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94.

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 the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the business posted $3.77 earnings per share. The PNC Financial Services Group’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

The PNC Financial Services Group 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.