Janus Henderson Group PLC Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Janus Henderson Group PLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,632,643 shares of the financial services provider’s stock after purchasing an additional 259,027 shares during the period. Janus Henderson Group PLC’s holdings in The PNC Financial Services Group were worth $314,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $541,000. AssuredPartners Investment Advisors LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $739,000. Premier Fund Managers Ltd increased its stake in shares of The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after purchasing an additional 13,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after acquiring an additional 8,081 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 8,735 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PNC shares. Barclays cut their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Wells Fargo & Company reduced their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $200.88.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $166.44 on Monday. The firm has a 50-day moving average of $164.74 and a two-hundred day moving average of $186.55. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market cap of $65.84 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.85%. The PNC Financial Services Group’s payout ratio is currently 45.20%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the sale, the chief executive officer now owns 569,783 shares in the company, valued at approximately $108,361,330.94. This represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 13,662 shares of company stock worth $2,322,006. 0.41% of the stock is owned by company 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.