Mackenzie Financial Corp Has $38.19 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mackenzie Financial Corp increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 46.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 246,618 shares of the financial services provider’s stock after buying an additional 78,122 shares during the quarter. Mackenzie Financial Corp owned 0.06% of The PNC Financial Services Group worth $38,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PNC. OFI Invest Asset Management acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its position in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PNC. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Morgan Stanley increased their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Jefferies Financial Group increased their price target on The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $157.10.

The PNC Financial Services Group Trading Down 2.0 %

Shares of PNC opened at $146.59 on Wednesday. The business has a 50-day moving average of $151.82 and a 200 day moving average of $141.64. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The firm has a market cap of $58.31 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.05 by $0.05. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $3.98 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.23%. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.

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 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.