Headlands Technologies LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Headlands Technologies LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, Holdings Channel reports. The fund acquired 2,059 shares of the financial services provider’s stock, valued at approximately $397,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in The PNC Financial Services Group during the 4th quarter worth $1,352,151,000. Schroder Investment Management Group increased its position in shares of The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock worth $265,436,000 after purchasing an additional 860,554 shares during the period. Bank of New York Mellon Corp raised its stake in The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after purchasing an additional 710,311 shares in the last quarter. Franklin Resources Inc. lifted its position in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after purchasing an additional 549,278 shares during the period. Finally, Vanguard Group Inc. increased its holdings in The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after buying an additional 268,827 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

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 business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the completion of the sale, the chief executive officer now directly owns 526,313 shares of the company’s stock, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 12,420 shares of company stock valued at $2,320,739. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Wells Fargo & Company lowered their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Barclays raised their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $205.65.

The PNC Financial Services Group Stock Down 9.1 %

Shares of NYSE:PNC opened at $160.99 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The business’s 50 day simple moving average is $185.87 and its two-hundred day simple moving average is $191.86. The firm has a market cap of $63.71 billion, a P/E ratio of 11.71, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.16 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.98%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

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.