Capital International Investors Has $2.49 Billion Holdings in The PNC Financial Services Group, Inc $PNC

Capital International Investors grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 10.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,936,742 shares of the financial services provider’s stock after buying an additional 1,101,055 shares during the quarter. Capital International Investors’ holdings in The PNC Financial Services Group were worth $2,491,819,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.1% in 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 buying an additional 408,464 shares during the period. State Street Corp boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock valued at $3,464,462,000 after buying an additional 85,291 shares during the period. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,967,080,000. Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock valued at $1,841,387,000 after buying an additional 30,078 shares during the period. Finally, Viking Global Investors LP boosted its holdings in shares of The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after buying an additional 5,581,102 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PNC. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. Finally, Truist Financial increased their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $228.76 on Friday. The stock has a market cap of $91.86 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The company has a fifty day moving average price of $218.12 and a two-hundred day moving average price of $214.36. The PNC Financial Services Group, Inc has a one year low of $172.73 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.51 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

The PNC Financial Services Group Company 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.