IFM Investors Pty Ltd Acquires 3,463 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

IFM Investors Pty Ltd grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 5.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,837 shares of the financial services provider’s stock after buying an additional 3,463 shares during the quarter. IFM Investors Pty Ltd’s holdings in The PNC Financial Services Group were worth $11,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PNC. Hilltop Holdings Inc. grew its stake in shares of The PNC Financial Services Group by 3.6% during the fourth quarter. Hilltop Holdings Inc. now owns 2,005 shares of the financial services provider’s stock valued at $402,000 after buying an additional 69 shares during the last quarter. Gotham Asset Management LLC increased its holdings in The PNC Financial Services Group by 22.5% during the 4th quarter. Gotham Asset Management LLC now owns 11,881 shares of the financial services provider’s stock worth $2,382,000 after purchasing an additional 2,179 shares during the period. Rockefeller Capital Management L.P. raised its position in The PNC Financial Services Group by 30.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 38,659 shares of the financial services provider’s stock valued at $7,751,000 after purchasing an additional 9,112 shares in the last quarter. Mutual Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 13.0% in the 4th quarter. Mutual Advisors LLC now owns 2,195 shares of the financial services provider’s stock worth $440,000 after buying an additional 252 shares during the period. Finally, Blair William & Co. IL grew its position in shares of The PNC Financial Services Group by 19.6% during the 4th quarter. Blair William & Co. IL now owns 16,908 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 2,773 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael P. Lyons sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $166.96, for a total value of $584,360.00. Following the completion of the transaction, the executive vice president now directly owns 174,651 shares of the company’s stock, valued at $29,159,730.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on The PNC Financial Services Group from $188.00 to $156.00 in a report on Monday, July 11th. Barclays decreased their price objective on The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Piper Sandler set a $160.00 price objective on The PNC Financial Services Group in a report on Tuesday, July 19th. Wolfe Research decreased their price objective on The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating on the stock in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $197.78.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $154.67 on Friday. The business’s 50 day moving average price is $163.92 and its 200 day moving average price is $168.71. The firm has a market cap of $63.43 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.37 and a beta of 1.21. The PNC Financial Services Group, Inc. has a 52 week low of $146.39 and a 52 week high of $228.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.75.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its earnings results on Friday, July 15th. The financial services provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.31. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.13 billion. The PNC Financial Services Group had a return on equity of 11.93% and a net margin of 27.32%. The PNC Financial Services Group’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.50 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 14.5 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were given a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, July 12th. This represents a $6.00 dividend on an annualized basis and a yield of 3.88%. The PNC Financial Services Group’s dividend payout ratio is currently 46.95%.

The PNC Financial Services Group Company Profile

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.

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

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