The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,571 shares of the financial services provider’s stock after acquiring an additional 2,765 shares during the period. OMERS ADMINISTRATION Corp’s holdings in The PNC Financial Services Group were worth $3,196,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PNC. Brookstone Capital Management grew its stake in shares of The PNC Financial Services Group by 14.1% during the fourth quarter. Brookstone Capital Management now owns 15,394 shares of the financial services provider’s stock valued at $2,969,000 after acquiring an additional 1,908 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $330,000. Wedmont Private Capital grew its stake in shares of The PNC Financial Services Group by 9.4% during the fourth quarter. Wedmont Private Capital now owns 4,811 shares of the financial services provider’s stock valued at $909,000 after acquiring an additional 412 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $500,000. Finally, Rosenberg Matthew Hamilton grew its stake in shares of The PNC Financial Services Group by 44.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 384 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 119 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $190.18, for a total transaction of $236,203.56. Following the completion of the transaction, the chief executive officer now directly owns 569,783 shares in the company, valued at approximately $108,361,330.94. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,396 shares of company stock worth $2,789,603. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PNC shares. Royal Bank of Canada lowered their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Finally, Wells Fargo & Company decreased their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Two research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $200.88.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $178.04 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm’s 50-day moving average price is $164.57 and its two-hundred day moving average price is $186.36. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The stock has a market capitalization of $70.43 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.59%. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

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.