The PNC Financial Services Group, Inc $PNC Stock Holdings Increased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,260,199 shares of the financial services provider’s stock after buying an additional 29,099 shares during the quarter. Hsbc Holdings PLC owned about 0.31% of The PNC Financial Services Group worth $263,098,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Monetary Solutions Ltd acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Quarry LP bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Modus Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $32,000. Finally, EFG International AG bought a new position in The PNC Financial Services Group during the fourth quarter worth $33,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Barclays raised their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Bank of America boosted their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.72.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $232.39 on Friday. The company has a 50-day moving average price of $222.68 and a two-hundred day moving average price of $217.55. The PNC Financial Services Group, Inc has a 52 week low of $176.16 and a 52 week high of $243.94. The stock has a market cap of $93.32 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,300 shares of company stock valued at $10,694,574 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.