Point72 Europe London LLP Has $7.65 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Point72 Europe London LLP raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 23.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 49,400 shares of the financial services provider’s stock after purchasing an additional 9,300 shares during the period. Point72 Europe London LLP’s holdings in The PNC Financial Services Group were worth $7,650,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Washington Trust Bank lifted its position in shares of The PNC Financial Services Group by 5.0% during the 4th quarter. Washington Trust Bank now owns 88,879 shares of the financial services provider’s stock valued at $13,763,000 after acquiring an additional 4,199 shares during the period. Putnam Investments LLC lifted its position in shares of The PNC Financial Services Group by 3.2% during the 4th quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after acquiring an additional 114,960 shares during the period. Jacobi Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 20.7% during the 4th quarter. Jacobi Capital Management LLC now owns 23,127 shares of the financial services provider’s stock valued at $3,581,000 after acquiring an additional 3,968 shares during the period. Icon Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $2,846,000. Finally, MGO One Seven LLC lifted its position in shares of The PNC Financial Services Group by 5.6% during the 4th quarter. MGO One Seven LLC now owns 20,773 shares of the financial services provider’s stock valued at $3,217,000 after acquiring an additional 1,109 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PNC shares. Jefferies Financial Group dropped their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Bank of America boosted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $157.83.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $2.39 during trading on Tuesday, hitting $150.30. 2,732,290 shares of the company’s stock traded hands, compared to its average volume of 1,941,096. The stock has a market capitalization of $59.81 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 3.01 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day moving average of $155.33 and a 200-day moving average of $151.56.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.98 earnings per share. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.13%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.