World Investment Advisors Has $2.29 Million Holdings in The PNC Financial Services Group, Inc $PNC

World Investment Advisors boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 123.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,984 shares of the financial services provider’s stock after purchasing an additional 6,069 shares during the period. World Investment Advisors’ holdings in The PNC Financial Services Group were worth $2,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Brighton Jones LLC boosted its position in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares during the last quarter. Empowered Funds LLC grew its stake in The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 170 shares during the period. Sivia Capital Partners LLC increased its position in shares of The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina raised its position in The PNC Financial Services Group by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after acquiring an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in The PNC Financial Services Group in the second quarter valued at approximately $482,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNC has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of 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. JPMorgan Chase & Co. upped their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Bank of America increased their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Citigroup lifted their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.72.

The PNC Financial Services Group Stock Up 0.1%

PNC opened at $232.39 on Friday. The stock has a market cap of $93.32 billion, a PE ratio of 13.50, a P/E/G ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52 week low of $176.16 and a 52 week high of $243.94. The business’s fifty day simple moving average is $222.68 and its 200 day simple moving average is $217.55. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 analysts’ expectations of $6.21 billion. During the same period in the previous year, the firm earned $3.51 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current fiscal 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 payout ratio is presently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by company insiders.

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.