Dorato Capital Management Makes New Investment in The PNC Financial Services Group, Inc $PNC

Dorato Capital Management acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNCFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,588 shares of the financial services provider’s stock, valued at approximately $549,000.

A number of other institutional investors have also made changes to their positions in the company. Viking Global Investors LP increased its stake in The PNC Financial Services Group by 234.9% during the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after buying an additional 5,581,102 shares during the period. AQR Capital Management LLC boosted its position in The PNC Financial Services Group by 134.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after buying an additional 1,917,530 shares during the last quarter. Wellington Management Group LLP boosted its position in The PNC Financial Services Group by 50.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after buying an additional 1,162,964 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of The PNC Financial Services Group by 43.8% during the second quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock valued at $517,598,000 after acquiring an additional 845,148 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of The PNC Financial Services Group by 491.7% during the second quarter. Marshall Wace LLP now owns 1,005,926 shares of the financial services provider’s stock valued at $187,525,000 after acquiring an additional 835,926 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PNC. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Wells Fargo & Company raised 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 note on Tuesday, January 20th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective on the stock. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. increased their target price on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.28.

Check Out Our Latest Analysis on PNC

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the transaction, the executive vice president owned 18,867 shares in the company, valued at $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 over the last 90 days. Insiders own 0.38% of the company’s stock.

Key Headlines Impacting The PNC Financial Services Group

Here are the key news stories impacting The PNC Financial Services Group this week:

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $211.76 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94. The company’s 50-day simple moving average is $217.68 and its 200-day simple moving average is $205.27. The stock has a market capitalization of $85.42 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.93 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share 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 firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the company earned $3.77 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

The PNC Financial Services Group Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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