Fideuram Asset Management Ireland dac Purchases Shares of 5,566 The PNC Financial Services Group, Inc $PNC

Fideuram Asset Management Ireland dac acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 5,566 shares of the financial services provider’s stock, valued at approximately $1,162,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of 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 worth $8,114,168,000 after acquiring an additional 408,464 shares during the period. State Street Corp increased its stake in shares of The PNC Financial Services Group by 0.5% in the third quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock worth $3,464,462,000 after acquiring an additional 85,291 shares during the period. Capital International Investors increased its stake in shares of The PNC Financial Services Group by 6.0% in the third quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock worth $2,177,318,000 after acquiring an additional 609,755 shares during the period. 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 worth $1,841,387,000 after acquiring an additional 30,078 shares during the period. Finally, Viking Global Investors LP increased its stake in shares of The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after acquiring an additional 5,581,102 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $221.36 on Friday. The company’s fifty day moving average price is $216.27 and its 200 day moving average price is $213.05. The PNC Financial Services Group, Inc has a 1 year low of $170.49 and a 1 year high of $243.94. The company has a market capitalization of $88.89 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the firm posted $3.51 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PNC. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Citigroup increased their price objective on shares of 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, Truist Financial increased their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

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.