The PNC Financial Services Group, Inc $PNC Stock Holdings Lifted by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 11.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 93,371 shares of the financial services provider’s stock after acquiring an additional 9,787 shares during the period. IFM Investors Pty Ltd’s holdings in The PNC Financial Services Group were worth $19,430,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares during the last quarter. State Street Corp increased its stake in The PNC Financial Services Group by 0.4% in the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock worth $3,615,085,000 after purchasing an additional 77,302 shares in the last quarter. Capital International Investors increased its stake in The PNC Financial Services Group by 10.2% in the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock worth $2,491,819,000 after purchasing an additional 1,101,055 shares in the last quarter. Norges Bank acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $1,967,080,000. Finally, Geode Capital Management LLC raised its holdings in The PNC Financial Services Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock worth $1,841,387,000 after buying an additional 30,078 shares during the period. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,300 shares of company stock valued at $10,694,574 in the last quarter. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Down 0.3%

Shares of NYSE PNC opened at $246.06 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $249.01. The business has a 50-day moving average price of $225.49 and a two-hundred day moving average price of $219.86. The firm has a market capitalization of $98.81 billion, a PE ratio of 14.30, a PEG ratio of 1.01 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.51 EPS. As a group, analysts predict that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Monday. Bank of America boosted their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Oppenheimer upped their price target on shares of The PNC Financial Services Group from $268.00 to $271.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price objective 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. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.56.

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.