IFM Investors Pty Ltd Has $19.43 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

IFM Investors Pty Ltd grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 11.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 93,371 shares of the financial services provider’s stock after purchasing an additional 9,787 shares during the quarter. IFM Investors Pty Ltd’s holdings in The PNC Financial Services Group were worth $19,430,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Truist Financial Corp raised its holdings in The PNC Financial Services Group by 3.3% in the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock worth $259,344,000 after acquiring an additional 39,589 shares during the period. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after acquiring an additional 408,464 shares during the period. Teamwork Financial Advisors LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $13,711,000. Stoneridge Investment Partners LLC grew its position in shares of The PNC Financial Services Group by 59.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock valued at $4,953,000 after purchasing an additional 8,818 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of The PNC Financial Services Group by 27.4% in the third quarter. First Trust Advisors LP now owns 1,998,954 shares of the financial services provider’s stock worth $401,650,000 after purchasing an additional 430,261 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president owned 5,059 shares in the company, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 48,300 shares of company stock worth $10,694,574. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 0.3%

NYSE PNC opened at $246.06 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a 50-day simple moving average of $225.49 and a 200 day simple moving average of $219.86. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $249.01. The stock has a market cap of $98.81 billion, a PE ratio of 14.30, a PEG ratio of 1.01 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the business earned $3.51 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 18.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PNC shares. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Morgan Stanley upped their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday. Barclays increased their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Stephens initiated coverage on shares of The PNC Financial Services Group in a research note on Monday, June 15th. They issued an “overweight” rating and a $265.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.56.

About The PNC Financial Services Group

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.