XTX Topco Ltd Invests $850,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

XTX Topco Ltd purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,691 shares of the financial services provider’s stock, valued at approximately $850,000.

Several other large investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after purchasing an additional 860,489 shares during the last quarter. FMR LLC grew its stake in The PNC Financial Services Group by 5.8% in the 1st quarter. FMR LLC now owns 11,401,954 shares of the financial services provider’s stock valued at $1,449,188,000 after buying an additional 623,952 shares in the last quarter. Bank of America Corp DE grew its stake in The PNC Financial Services Group by 0.4% in the 4th quarter. Bank of America Corp DE now owns 9,264,839 shares of the financial services provider’s stock valued at $1,463,289,000 after buying an additional 36,414 shares in the last quarter. Geode Capital Management LLC grew its stake in The PNC Financial Services Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,047,208 shares of the financial services provider’s stock valued at $1,110,660,000 after buying an additional 27,301 shares in the last quarter. Finally, Morgan Stanley grew its stake in The PNC Financial Services Group by 28.7% in the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after buying an additional 1,045,055 shares in the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of The PNC Financial Services Group from $186.00 to $176.00 in a research note on Wednesday, July 19th. HSBC initiated coverage on shares of The PNC Financial Services Group in a report on Thursday. They issued a “reduce” rating and a $110.00 price target for the company. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $137.00 to $144.00 and gave the company an “underweight” rating in a report on Wednesday, July 19th. 888 reissued a “reiterates” rating on shares of The PNC Financial Services Group in a report on Monday, June 26th. Finally, Citigroup cut their price target on shares of The PNC Financial Services Group from $150.00 to $145.00 in a report on Thursday, June 8th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $158.94.

The PNC Financial Services Group Price Performance

PNC stock opened at $116.93 on Friday. The firm’s 50-day moving average price is $126.59 and its two-hundred day moving average price is $127.09. The PNC Financial Services Group, Inc. has a 12-month low of $110.31 and a 12-month high of $170.27. The stock has a market capitalization of $46.57 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 1.08 and a beta of 1.15. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.33.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $3.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.05. The PNC Financial Services Group had a net margin of 21.97% and a return on equity of 13.27%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the previous year, the company earned $3.42 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.5 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, August 5th. Shareholders of record on Monday, July 17th were given a $1.55 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, July 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.30%. The PNC Financial Services Group’s payout ratio is presently 42.49%.

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 certificates of 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.