IFM Investors Pty Ltd Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)


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IFM Investors Pty Ltd increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,978 shares of the financial services provider’s stock after purchasing an additional 5,572 shares during the quarter. IFM Investors Pty Ltd’s holdings in The PNC Financial Services Group were worth $6,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PNC. WealthPLAN Partners LLC acquired a new stake in The PNC Financial Services Group in the second quarter valued at $301,000. Orion Portfolio Solutions LLC raised its stake in shares of The PNC Financial Services Group by 30.5% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 3,937 shares of the financial services provider’s stock worth $414,000 after buying an additional 919 shares during the last quarter. Rockbridge Investment Management LCC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $49,000. Handelsbanken Fonder AB acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $10,585,000. Finally, WFA of San Diego LLC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $721,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Shares of PNC opened at $159.10 on Thursday. The business’s 50 day moving average is $146.46 and its two-hundred day moving average is $119.94. The PNC Financial Services Group, Inc. has a 52-week low of $79.41 and a 52-week high of $162.74. The firm has a market cap of $67.41 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 3.17 and a beta of 1.24. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Monday, October 19th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.12 by $1.27. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company posted $2.94 EPS. The PNC Financial Services Group’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 5.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 5th. Stockholders of record on Tuesday, January 19th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, January 15th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.89%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.39%.

A number of analysts recently commented on the company. Smith Barney Citigroup upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $179.00 in a research report on Monday. Royal Bank of Canada lifted their price objective on The PNC Financial Services Group from $20.00 to $135.00 in a research report on Tuesday, November 17th. JPMorgan Chase & Co. lifted their price objective on The PNC Financial Services Group from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Stephens cut The PNC Financial Services Group from an “overweight” rating to an “equal weight” rating and set a $135.00 price objective for the company. in a research report on Monday, November 30th. Finally, BidaskClub upgraded The PNC Financial Services Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 9th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $142.06.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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