Mn Services Vermogensbeheer B.V. Grows Stake in The PNC Financial Services Group, Inc $PNC

Mn Services Vermogensbeheer B.V. grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 152,634 shares of the financial services provider’s stock after acquiring an additional 2,925 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in The PNC Financial Services Group were worth $31,859,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter valued at approximately $25,000. Beacon Financial Strategies CORP purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $35,000. Westfuller Advisors LLC purchased a new stake in The PNC Financial Services Group in the third quarter worth $34,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at $37,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at $39,000. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the transaction, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares in the company, valued at $4,415,066.67. This represents 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 ninety days, insiders have sold 64,186 shares of company stock worth $14,840,973. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. TD Cowen increased their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday. Royal Bank Of Canada lifted their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.94.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $201.53 on Tuesday. The company has a 50 day moving average of $218.47 and a 200 day moving average of $205.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The stock has a market cap of $81.29 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.90 and a beta of 0.98. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the prior year, the company posted $3.77 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

The PNC Financial Services Group 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.