Canada Post Corp Registered Pension Plan Increases Stock Holdings in The PNC Financial Services Group, Inc $PNC

Canada Post Corp Registered Pension Plan grew its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 106.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,574 shares of the financial services provider’s stock after buying an additional 26,572 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in The PNC Financial Services Group were worth $10,410,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kennebec Savings Bank boosted its holdings in The PNC Financial Services Group by 1.6% during the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock valued at $688,000 after acquiring an additional 54 shares during the period. Almanack Investment Partners LLC. increased its position in shares of The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 55 shares during the last quarter. Winthrop Capital Management LLC increased its position in shares of The PNC Financial Services Group by 2.1% in the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 55 shares during the last quarter. SCS Capital Management LLC increased its holdings in The PNC Financial Services Group by 0.6% in the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock valued at $1,590,000 after buying an additional 55 shares during the last quarter. Finally, Webster Bank N. A. lifted its stake in The PNC Financial Services Group by 0.5% during the third quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock worth $2,205,000 after purchasing an additional 55 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. Truist Financial lifted their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Wells Fargo & Company boosted their price target 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. TD Cowen boosted their target price on 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. Morgan Stanley upped their price target on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. Finally, Barclays lifted their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $242.53 on Friday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94. The stock has a market cap of $95.11 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The business’s fifty day moving average price is $214.89 and its two-hundred day moving average price is $200.51. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $3.77 EPS. On average, 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 2.8%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

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.