Sei Investments Co. Has $41.22 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sei Investments Co. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 20.3% during the first quarter, HoldingsChannel.com reports. The firm owned 237,069 shares of the financial services provider’s stock after purchasing an additional 39,942 shares during the period. Sei Investments Co.’s holdings in The PNC Financial Services Group were worth $41,216,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PNC. Dynamic Advisor Solutions LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $266,000. CIBC Asset Management Inc lifted its position in shares of The PNC Financial Services Group by 23.2% in the fourth quarter. CIBC Asset Management Inc now owns 86,091 shares of the financial services provider’s stock worth $12,828,000 after purchasing an additional 16,200 shares in the last quarter. Almanack Investment Partners LLC. lifted its position in shares of The PNC Financial Services Group by 41.1% in the fourth quarter. Almanack Investment Partners LLC. now owns 3,928 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 1,144 shares in the last quarter. Baker Tilly Financial LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $700,000. Finally, GSA Capital Partners LLP bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $356,000. 81.56% of the stock is currently owned by institutional investors and hedge funds.

PNC stock opened at $188.75 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.84. The company has a 50-day simple moving average of $187.88. The PNC Financial Services Group, Inc. has a 52 week low of $97.09 and a 52 week high of $203.88. The firm has a market capitalization of $80.19 billion, a P/E ratio of 9.86, a PEG ratio of 2.24 and a beta of 1.41.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, April 15th. The financial services provider reported $4.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $1.35. The PNC Financial Services Group had a net margin of 47.97% and a return on equity of 7.54%. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the company posted $1.95 earnings per share. The PNC Financial Services Group’s revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 5th. Investors of record on Friday, April 16th were paid a $1.15 dividend. The ex-dividend date was Thursday, April 15th. This represents a $4.60 annualized dividend and a dividend yield of 2.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 72.33%.

A number of brokerages have recently commented on PNC. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $230.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of The PNC Financial Services Group from $157.00 to $190.00 and gave the stock a “hold” rating in a research report on Thursday, April 1st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of The PNC Financial Services Group from $179.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 20th. Raymond James raised shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research report on Monday, May 10th. Finally, Compass Point upped their price target on shares of The PNC Financial Services Group from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $179.30.

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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