The PNC Financial Services Group, Inc $PNC is Exane Asset Management’s 5th Largest Position

Exane Asset Management grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,190 shares of the financial services provider’s stock after acquiring an additional 3,815 shares during the period. The PNC Financial Services Group comprises about 10.1% of Exane Asset Management’s holdings, making the stock its 5th biggest position. Exane Asset Management’s holdings in The PNC Financial Services Group were worth $28,168,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. First Horizon Corp purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth about $8,360,000. Benjamin Edwards Inc. raised its position in The PNC Financial Services Group by 27.2% during the third quarter. Benjamin Edwards Inc. now owns 24,763 shares of the financial services provider’s stock worth $4,977,000 after acquiring an additional 5,294 shares during the last quarter. Charter Oak Capital Management LLC purchased a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $2,242,000. Cullen Capital Management LLC grew its position in shares of The PNC Financial Services Group by 3.8% in the second quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock valued at $38,193,000 after purchasing an additional 7,478 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in shares of The PNC Financial Services Group by 115.1% in the second quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock valued at $1,050,000 after purchasing an additional 3,013 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada boosted their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, TD Cowen upped their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $223.69 on Wednesday. The stock has a fifty day moving average price of $208.11 and a 200 day moving average price of $198.57. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $227.78. The firm has a market capitalization of $87.72 billion, a P/E ratio of 13.48, a PEG ratio of 0.92 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the previous year, the business earned $3.77 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

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.