Russell Investments Group Ltd. Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Russell Investments Group Ltd. increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,124 shares of the financial services provider’s stock after buying an additional 10,924 shares during the quarter. Russell Investments Group Ltd.’s holdings in The PNC Financial Services Group were worth $39,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Price T Rowe Associates Inc. MD boosted its holdings in The PNC Financial Services Group by 21.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,413,715 shares of the financial services provider’s stock valued at $2,116,282,000 after purchasing an additional 2,373,814 shares in the last quarter. Federated Hermes Inc. boosted its holdings in The PNC Financial Services Group by 56,674.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,945,646 shares of the financial services provider’s stock valued at $306,965,000 after purchasing an additional 1,942,219 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in The PNC Financial Services Group by 428.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 579,886 shares of the financial services provider’s stock valued at $86,869,000 after purchasing an additional 470,181 shares in the last quarter. Deutsche Bank AG boosted its holdings in The PNC Financial Services Group by 22.9% in the 2nd quarter. Deutsche Bank AG now owns 2,089,735 shares of the financial services provider’s stock valued at $329,698,000 after purchasing an additional 389,958 shares in the last quarter. Finally, Amundi boosted its holdings in The PNC Financial Services Group by 19.3% in the 2nd quarter. Amundi now owns 1,956,480 shares of the financial services provider’s stock valued at $295,351,000 after purchasing an additional 316,498 shares in the last quarter. Hedge funds and other institutional investors own 82.05% of the company’s stock.

The PNC Financial Services Group Trading Down 0.6 %

Shares of PNC opened at $158.42 on Wednesday. The stock has a fifty day moving average of $158.85 and a two-hundred day moving average of $159.77. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $63.89 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $214.50.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share for the quarter, missing the consensus estimate of $3.95 by ($0.46). The business had revenue of $5.76 billion during the quarter, compared to analyst estimates of $5.71 billion. The PNC Financial Services Group had a net margin of 25.73% and a return on equity of 12.88%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.86 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 14.94 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, January 13th. This represents a $6.00 annualized dividend and a dividend yield of 3.79%. The PNC Financial Services Group’s dividend payout ratio is presently 43.26%.

Insider Activity

In other news, EVP Guild Deborah sold 2,833 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total transaction of $452,316.78. Following the completion of the sale, the executive vice president now directly owns 20,527 shares of the company’s stock, valued at approximately $3,277,340.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Guild Deborah sold 2,833 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total transaction of $452,316.78. Following the completion of the sale, the executive vice president now directly owns 20,527 shares of the company’s stock, valued at approximately $3,277,340.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak purchased 6,550 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were acquired at an average cost of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the transaction, the chief executive officer now owns 482,924 shares in the company, valued at approximately $74,070,883.12. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $162.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, October 4th. Evercore ISI reduced their price target on shares of The PNC Financial Services Group to $180.00 in a research report on Thursday, October 20th. Citigroup lifted their price target on shares of The PNC Financial Services Group to $180.00 in a research report on Friday, December 2nd. Bank of America downgraded shares of The PNC Financial Services Group from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $157.00 to $160.00 in a research report on Thursday, January 5th. Finally, Compass Point reduced their price target on shares of The PNC Financial Services Group to $160.00 in a research report on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $180.41.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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