Mackenzie Financial Corp Purchases 78,122 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Mackenzie Financial Corp boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 46.4% in the 4th quarter, Holdings Channel reports. The firm owned 246,618 shares of the financial services provider’s stock after buying an additional 78,122 shares during the quarter. Mackenzie Financial Corp’s holdings in The PNC Financial Services Group were worth $38,189,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in The PNC Financial Services Group in the third quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PNC. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a report on Friday, April 5th. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. UBS Group boosted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Finally, HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.10.

The PNC Financial Services Group Trading Down 2.0 %

NYSE PNC opened at $146.59 on Wednesday. The company has a market capitalization of $58.31 billion, a PE ratio of 11.46, a P/E/G ratio of 1.72 and a beta of 1.18. The company has a fifty day moving average of $151.82 and a 200 day moving average of $141.64. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.05. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.98 earnings per share. Research analysts forecast that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.23%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 48.48%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time 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.