Schroder Investment Management Group Increases Stake in The PNC Financial Services Group, Inc $PNC

Schroder Investment Management Group increased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,399,430 shares of the financial services provider’s stock after purchasing an additional 232,167 shares during the quarter. Schroder Investment Management Group owned 0.36% of The PNC Financial Services Group worth $281,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Westfuller Advisors LLC purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $34,000. Bayforest Capital Ltd increased its holdings in shares of The PNC Financial Services Group by 237.1% in the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares during the period. True Wealth Design LLC lifted its stake in shares of The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 204 shares during the last quarter. Country Trust Bank lifted its stake in shares of The PNC Financial Services Group by 38.9% in the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 68 shares during the last quarter. Finally, Corundum Trust Company INC purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at about $49,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $206.26 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The firm has a market cap of $83.20 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.86 and a beta of 0.98. The business’s 50 day moving average price is $222.17 and its 200-day moving average price is $205.18.

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 analysts’ consensus estimates 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 company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the prior year, the company earned $3.77 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares in the company, valued at $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president directly owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 64,186 shares of company stock worth $14,840,973. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PNC shares. Oppenheimer raised their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research report on Tuesday, January 20th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada upped their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.44.

The PNC Financial Services Group Company 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.