Cullinan Associates Inc. grew its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 11.3% in the 4th quarter, HoldingsChannel reports. The fund owned 31,580 shares of the financial services provider’s stock after acquiring an additional 3,200 shares during the period. Cullinan Associates Inc.’s holdings in PNC Financial Services Group were worth $4,557,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PNC. FMR LLC raised its stake in shares of PNC Financial Services Group by 13.9% during the second quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock valued at $1,957,539,000 after acquiring an additional 1,915,923 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of PNC Financial Services Group by 240.4% during the second quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock valued at $298,281,000 after acquiring an additional 1,686,944 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of PNC Financial Services Group by 2,624.0% during the second quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock valued at $213,239,000 after acquiring an additional 1,645,007 shares in the last quarter. Koch Industries Inc. raised its stake in shares of PNC Financial Services Group by 78,828.1% during the second quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 1,348,748 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of PNC Financial Services Group by 7.4% during the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after acquiring an additional 875,164 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. Wells Fargo & Co set a $157.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Tuesday. Royal Bank of Canada reissued a “buy” rating on shares of PNC Financial Services Group in a research note on Monday, October 16th. Credit Suisse Group boosted their price objective on shares of PNC Financial Services Group from $135.00 to $137.00 and gave the stock a “neutral” rating in a research note on Monday, October 16th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research note on Tuesday, October 31st. Finally, ValuEngine downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Eighteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $144.02.

PNC Financial Services Group Inc (PNC) traded up $1.97 during midday trading on Wednesday, reaching $154.23. 2,737,901 shares of the company’s stock traded hands, compared to its average volume of 2,607,500. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a fifty-two week low of $113.66 and a fifty-two week high of $154.93. The stock has a market capitalization of $73,380.00, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.50 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company earned $1.97 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. analysts forecast that PNC Financial Services Group Inc will post 10 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.95%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is currently 12.46%.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Q. Reilly sold 19,576 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 103,299 shares in the company, valued at $15,031,037.49. The disclosure for this sale can be found here. Insiders sold 108,523 shares of company stock worth $15,392,168 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

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About PNC Financial Services Group

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.

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

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