Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in The PNC Financial Services Group, Inc $PNC

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 415.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 880,602 shares of the financial services provider’s stock after buying an additional 709,912 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in The PNC Financial Services Group were worth $183,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP purchased a new position in shares of The PNC Financial Services Group during the third quarter worth $25,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth $29,000. Beacon Financial Strategies CORP purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth $35,000. Cornerstone Planning Group LLC boosted its position in shares of The PNC Financial Services Group by 2,100.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after buying an additional 168 shares during the period. Finally, JPL Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the third quarter worth $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group 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 value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Up 1.5%

Shares of NYSE PNC opened at $237.51 on Friday. The stock has a market cap of $95.37 billion, a P/E ratio of 13.80, a PEG ratio of 0.99 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, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The business’s fifty day simple moving average is $220.85 and its 200-day simple moving average is $216.10.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The business 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 company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $3.51 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Morgan Stanley raised their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Barclays increased their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Finally, Oppenheimer increased their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

About The PNC Financial Services Group

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.