Life Cycle Investment Partners Ltd Acquires Shares of 137,156 The PNC Financial Services Group, Inc $PNC

Life Cycle Investment Partners Ltd acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 137,156 shares of the financial services provider’s stock, valued at approximately $28,629,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Viking Global Investors LP increased its stake in The PNC Financial Services Group by 234.9% in the 3rd 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 last quarter. Wellington Management Group LLP increased its stake in The PNC Financial Services Group by 50.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after buying an additional 1,162,964 shares during the last quarter. AQR Capital Management LLC increased its stake in The PNC Financial Services Group by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider’s stock valued at $889,297,000 after buying an additional 1,086,941 shares during the last quarter. Capital International Investors increased its stake in The PNC Financial Services Group by 6.0% in the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock valued at $2,177,318,000 after buying an additional 609,755 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $123,940,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of several research analyst reports. Oppenheimer raised their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Barclays raised their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. raised their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. Finally, Truist Financial raised their price target on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Trading Up 0.5%

Shares of PNC stock opened at $219.50 on Friday. The company has a 50 day moving average of $214.39 and a 200-day moving average of $211.74. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12-month low of $169.32 and a 12-month high of $243.94. The firm has a market cap of $88.14 billion, a P/E ratio of 12.75, a PEG ratio of 0.91 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate 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 PNC Financial Services Group’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $3.51 EPS. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

About The PNC Financial Services Group

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.