Financial services

PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Boosted by Graypoint LLC


Graypoint LLC raised its position in shares of The PNC Financial Services Group, Inc. (NYSE: PNC – Get Rating) by 5.0% in Q1, Holdings Channel reports. The fund held 1,444 shares of the financial services provider after buying an additional 69 shares during the period. Graypoint LLC’s holdings in The PNC Financial Services Group were worth $266,000 when it last filed with the SEC.

Other institutional investors have also recently increased or reduced their stake in the company. BlackRock Inc. increased its stake in The PNC Financial Services Group by 1.6% in the fourth quarter. BlackRock Inc. now owns 29,974,459 shares of the financial services provider worth $6,010,476,000 after purchasing an additional 486,126 shares during the period. State Street Corp increased its stake in The PNC Financial Services Group by 2.8% in the fourth quarter. State Street Corp now owns 19,704,923 shares of the financial services provider worth $3,951,231,000 after purchasing an additional 536,564 shares during the period. Capital Research Global Investors increased its stake in The PNC Financial Services Group by 10.7% in the fourth quarter. Capital Research Global Investors now owns 16,957,554 shares of the financial services provider worth $3,400,329,000 after purchasing an additional 1,639,724 shares during the period. Geode Capital Management LLC increased its stake in The PNC Financial Services Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 6,874,797 shares of the financial services provider worth $1,374,503,000 after purchasing an additional 139,102 shares during the period. Finally, Norges Bank acquired a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $809,193,000. Institutional investors and hedge funds hold 83.54% of the company’s shares.

Several research companies have recently weighed in on PNC. Argus cut its price target on shares of PNC Financial Services Group from $245.00 to $220.00 in a Monday, April 18 report. StockNews.com began covering shares of PNC Financial Services Group in a report on Thursday, March 31. They issued a “holding” rating for the company. Morgan Stanley cut its price target on PNC Financial Services Group shares from $209.00 to $196.00 and set an “underweight” rating for the company in a Monday, March 28 report. Wolfe Research cut its price target on PNC Financial Services Group shares from $223.00 to $177.00 and set an “outperform” rating for the company in a Thursday, May 26 report. Finally, Raymond James cut his price target on PNC Financial Services Group shares from $215.00 to $210.00 and set an “outperform” rating for the company in a Monday, April 18 report. One equity research analyst gave the stock a sell rating, nine gave the company a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $215.29.

In other news from PNC Financial Services Group, Director Robert A. Niblock purchased 2,000 shares of the company in a trade dated Friday, May 6. The shares were purchased at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the acquisition, the director now directly owns 6,063 shares of the company, valued at $1,012,945.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, EVP Guild Deborah sold 1,257 shares of the company in a trade dated Tuesday, May 3. The shares were sold at an average price of $170.56, for a total value of $214,393.92. Following the completion of the transaction, the executive vice president now owns 23,360 shares of the company, valued at approximately $3,984,281.60. The disclosure of this sale can be found here. 0.34% of the shares are currently held by company insiders.

PNC stock opened at $157.77 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt ratio of 0.54. The PNC Financial Services Group, Inc. has a one-year low of $149.51 and a one-year high of $228.14. The company has a market capitalization of $65.25 billion, a PE ratio of 13.35, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a 50-day moving average of $163.99 and a two-hundred-day moving average of $186.32.

PNC Financial Services Group (NYSE:PNC – Get Rating) last released quarterly earnings data on Thursday, April 14. The financial services provider reported EPS of $3.29 for the quarter, beating consensus analyst estimates of $2.78 by $0.51. The PNC Financial Services group achieved a net margin of 26.14% and a return on equity of 12.43%. The company posted revenue of $4.69 billion in the quarter, versus analyst estimates of $4.72 billion. In the same period a year earlier, the company had earned earnings per share of $4.10. The company’s quarterly revenue increased 11.2% year over year. On average, equity research analysts expect The PNC Financial Services Group, Inc. to post earnings per share of 14.19 for the current year.

PNC Financial Services Group Company Profile (Get a rating)

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.

Further reading

Want to see what other hedge funds own PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating).

Institutional ownership by quarter for PNC Financial Services Group (NYSE:PNC)



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