The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,354 shares of the financial services provider’s stock after buying an additional 113 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in The PNC Financial Services Group were worth $1,692,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board raised its stake in The PNC Financial Services Group by 25.7% in the third quarter. Public Sector Pension Investment Board now owns 51,416 shares of the financial services provider’s stock valued at $5,651,000 after buying an additional 10,500 shares in the last quarter. Sageworth Trust Co raised its stake in The PNC Financial Services Group by 1,722.5% in the third quarter. Sageworth Trust Co now owns 5,504 shares of the financial services provider’s stock valued at $605,000 after buying an additional 5,202 shares in the last quarter. Baldwin Brothers Inc. MA increased its position in shares of The PNC Financial Services Group by 46.8% during the fourth quarter. Baldwin Brothers Inc. MA now owns 61,053 shares of the financial services provider’s stock worth $9,097,000 after purchasing an additional 19,465 shares in the last quarter. California Public Employees Retirement System increased its position in shares of The PNC Financial Services Group by 2.4% during the third quarter. California Public Employees Retirement System now owns 974,738 shares of the financial services provider’s stock worth $107,133,000 after purchasing an additional 22,880 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth about $225,000. Institutional investors own 79.48% of the company’s stock.

PNC stock opened at $159.10 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The PNC Financial Services Group, Inc. has a one year low of $79.41 and a one year high of $162.74. The firm has a market capitalization of $67.41 billion, a PE ratio of 9.52, a P/E/G ratio of 3.17 and a beta of 1.24. The firm has a 50-day moving average of $146.46 and a two-hundred day moving average of $119.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Monday, October 19th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $1.27. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. The PNC Financial Services Group had a net margin of 38.16% and a return on equity of 5.97%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.94 earnings per share. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 5.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 5th. Stockholders of record on Tuesday, January 19th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.39%.

A number of analysts have recently commented on PNC shares. Deutsche Bank Aktiengesellschaft lifted their target price on The PNC Financial Services Group from $115.00 to $157.00 and gave the stock a “hold” rating in a research report on Wednesday, January 6th. BidaskClub raised The PNC Financial Services Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 9th. Bank of America raised their price target on The PNC Financial Services Group from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $179.00 in a report on Monday. Finally, Zacks Investment Research downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $118.00 price target for the company. in a research report on Monday, October 5th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $142.06.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Further Reading: Index Funds

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

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