Capital International Investors Has $2.35 Billion Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital International Investors lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,210,138 shares of the financial services provider’s stock after selling 2,372,816 shares during the quarter. Capital International Investors’ holdings in The PNC Financial Services Group were worth $2,354,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares during the period. Morse Asset Management Inc bought a new position in The PNC Financial Services Group during the third quarter worth about $481,000. Wealthquest Corp acquired a new position in The PNC Financial Services Group during the third quarter worth approximately $212,000. Wilmington Savings Fund Society FSB raised its stake in The PNC Financial Services Group by 86.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock valued at $6,367,000 after buying an additional 15,962 shares during the period. Finally, Synovus Financial Corp lifted its position in shares of The PNC Financial Services Group by 3.7% in the third quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock valued at $2,631,000 after buying an additional 509 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $152.05 on Friday. The business has a fifty day moving average price of $174.58 and a two-hundred day moving average price of $189.29. The stock has a market capitalization of $60.17 billion, a PE ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is 45.20%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 11,819 shares of company stock valued at $2,127,508 over the last three months. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. Truist Financial dropped their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research note on Wednesday. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Wells Fargo & Company reduced their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Finally, Morgan Stanley reduced their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $200.88.

About The PNC Financial Services Group

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.