Scotia Capital Inc. Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Scotia Capital Inc. raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,655 shares of the financial services provider’s stock after buying an additional 389 shares during the quarter. Scotia Capital Inc.’s holdings in The PNC Financial Services Group were worth $5,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after buying an additional 268,827 shares during the last quarter. Franklin Resources Inc. raised its stake in The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock valued at $2,089,622,000 after buying an additional 549,278 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after acquiring an additional 726,115 shares in the last quarter. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $1,352,151,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after acquiring an additional 710,311 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PNC. Wells Fargo & Company lowered 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 research note on Friday, March 28th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $203.47.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $151.57 on Friday. 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 company has a 50 day moving average price of $178.30 and a 200-day moving average price of $190.17. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The firm has a market cap of $59.98 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.16 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.22%. The PNC Financial Services Group’s payout ratio is 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the completion of the sale, the chief executive officer now owns 525,071 shares of the company’s stock, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 12,420 shares of company stock worth $2,276,870. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company Profile

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.