Great West Life Assurance Co. Can Has $39.32 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Great West Life Assurance Co. Can lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 43.5% during the 2nd quarter, Holdings Channel reports. The firm owned 310,728 shares of the financial services provider’s stock after selling 239,607 shares during the period. Great West Life Assurance Co. Can’s holdings in The PNC Financial Services Group were worth $39,320,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in The PNC Financial Services Group by 788.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock valued at $1,080,490,000 after acquiring an additional 7,544,029 shares during the last quarter. Norges Bank bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $735,469,000. Moneta Group Investment Advisors LLC grew its stake in shares of The PNC Financial Services Group by 122,771.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after purchasing an additional 2,538,916 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in The PNC Financial Services Group by 98,059.3% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,484,169 shares of the financial services provider’s stock valued at $186,931,000 after purchasing an additional 1,482,657 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in The PNC Financial Services Group by 187.2% in the first quarter. First Trust Advisors LP now owns 2,000,936 shares of the financial services provider’s stock valued at $254,319,000 after buying an additional 1,304,196 shares during the period. Institutional investors and hedge funds own 80.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HSBC assumed coverage on The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price target for the company. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of The PNC Financial Services Group in a research report on Tuesday, October 24th. Bank of America raised The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Finally, Stephens decreased their target price on The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.99.

The PNC Financial Services Group Trading Up 0.1 %

Shares of The PNC Financial Services Group stock opened at $130.34 on Tuesday. The stock has a market cap of $51.92 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.15 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $170.27. The business’s 50 day moving average is $120.50 and its 200-day moving average is $123.00.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The firm had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.32 billion. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.78 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.86 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were paid a $1.55 dividend. The ex-dividend date was Monday, October 16th. This represents a $6.20 annualized dividend and a yield of 4.76%. The PNC Financial Services Group’s dividend payout ratio is 43.03%.

About The PNC Financial Services Group

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 certificates of 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.