AustralianSuper Pty Ltd Has $4.77 Million Holdings in The PNC Financial Services Group, Inc $PNC

AustralianSuper Pty Ltd lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 38.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,718 shares of the financial services provider’s stock after selling 14,827 shares during the period. AustralianSuper Pty Ltd’s holdings in The PNC Financial Services Group were worth $4,766,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Westfuller Advisors LLC bought a new stake in The PNC Financial Services Group during the third quarter worth approximately $34,000. Bayforest Capital Ltd lifted its stake in shares of The PNC Financial Services Group by 237.1% in the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of The PNC Financial Services Group by 1,133.3% during the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after buying an additional 204 shares during the period. Country Trust Bank grew its stake in The PNC Financial Services Group by 38.9% in the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after buying an additional 68 shares during the last quarter. Finally, Corundum Trust Company INC acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at $49,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $213.91 on Thursday. The stock has a 50 day moving average of $222.34 and a two-hundred day moving average of $204.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94. The company has a market capitalization of $86.28 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.89 and a beta of 0.98.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The PNC Financial Services Group’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.77 earnings per share. As a group, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the sale, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the transaction, the executive vice president directly owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 in the last 90 days. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer upped their price target on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Morgan Stanley increased their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. TD Cowen upped their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Barclays raised their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.44.

The PNC Financial Services Group Company Profile

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.