Mirae Asset Global Investments Co. Ltd. Purchases 6,572 Shares of The PNC Financial Services Group, Inc $PNC

Mirae Asset Global Investments Co. Ltd. boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,835 shares of the financial services provider’s stock after purchasing an additional 6,572 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in The PNC Financial Services Group were worth $11,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares during the last quarter. Empowered Funds LLC increased its position in shares of The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 170 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 1,449 shares during the last quarter. Capital Investment Advisors LLC raised its stake in The PNC Financial Services Group by 76.6% in the second quarter. Capital Investment Advisors LLC now owns 2,916 shares of the financial services provider’s stock valued at $544,000 after purchasing an additional 1,265 shares in the last quarter. Finally, PFG Investments LLC lifted its position in The PNC Financial Services Group by 12.0% during the second quarter. PFG Investments LLC now owns 4,492 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 480 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 0.5%

PNC opened at $223.33 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $227.78. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $210.42 and its 200-day moving average price is $199.09. The company has a market cap of $87.58 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.94 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period last year, the company earned $3.77 EPS. The PNC Financial Services Group’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, 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 company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PNC. Royal Bank Of Canada increased their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Morgan Stanley raised their price target on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research report on Tuesday, January 20th. TD Cowen upped their price objective 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, Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group 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.