Charles Schwab Investment Management Inc. Increases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Charles Schwab Investment Management Inc. lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,336,842 shares of the financial services provider’s stock after buying an additional 68,262 shares during the period. Charles Schwab Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $361,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC raised its stake in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after purchasing an additional 893,808 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of The PNC Financial Services Group by 15,539.2% during the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after acquiring an additional 639,903 shares during the period. Invesco Ltd. raised its holdings in The PNC Financial Services Group by 10.4% during the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after purchasing an additional 484,475 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in The PNC Financial Services Group by 44.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after purchasing an additional 477,367 shares in the last quarter. Finally, Anchor Capital Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 601.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock valued at $60,885,000 after buying an additional 337,105 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $0.68 during midday trading on Wednesday, reaching $156.83. The stock had a trading volume of 427,421 shares, compared to its average volume of 2,029,172. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $62.39 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.77 and a beta of 1.16. The firm’s 50 day moving average price is $154.02 and its 200-day moving average price is $145.39. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.98 earnings per share. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’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 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 Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on PNC shares. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $157.02.

The PNC Financial Services Group 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.