Meag Munich Ergo Kapitalanlagegesellschaft MBH Purchases 126,480 Shares of Postmedia Network Canada Corp. (PNC)

Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Postmedia Network Canada Corp. (NYSE:PNC) by 217.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,620 shares of the company’s stock after acquiring an additional 126,480 shares during the quarter. Postmedia Network Canada Corp. makes up 1.0% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s portfolio, making the stock its 20th biggest holding. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Postmedia Network Canada Corp. were worth $24,901,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Postmedia Network Canada Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the company’s stock valued at $4,065,151,000 after acquiring an additional 589,235 shares during the period. BlackRock Inc. lifted its holdings in Postmedia Network Canada Corp. by 1.3% in the second quarter. BlackRock Inc. now owns 27,475,136 shares of the company’s stock valued at $3,430,820,000 after acquiring an additional 341,222 shares during the period. FMR LLC lifted its holdings in Postmedia Network Canada Corp. by 13.9% in the second quarter. FMR LLC now owns 15,676,614 shares of the company’s stock valued at $1,957,539,000 after acquiring an additional 1,915,923 shares during the period. JPMorgan Chase & Co. lifted its holdings in Postmedia Network Canada Corp. by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the company’s stock valued at $1,592,394,000 after acquiring an additional 875,164 shares during the period. Finally, Capital World Investors lifted its holdings in Postmedia Network Canada Corp. by 6.9% in the second quarter. Capital World Investors now owns 10,112,603 shares of the company’s stock valued at $1,262,761,000 after acquiring an additional 654,997 shares during the period.

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In other Postmedia Network Canada Corp. news, insider Orlando C. Esposito sold 4,505 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of C$138.85, for a total transaction of C$625,519.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of C$136.98, for a total value of C$429,432.30. Following the transaction, the insider now owns 20,449 shares of the company’s stock, valued at approximately C$2,801,104.02. The disclosure for this sale can be found here. Insiders have sold a total of 12,640 shares of company stock valued at $1,729,952 in the last 90 days.

Postmedia Network Canada Corp. (NYSE:PNC) traded down C$0.07 during midday trading on Friday, reaching C$132.48. The company’s stock had a trading volume of 1,930,000 shares, compared to its average volume of 1,640,000. Postmedia Network Canada Corp. has a fifty-two week low of C$104.78 and a fifty-two week high of C$139.23.

Postmedia Network Canada Corp. (NYSE:PNC) last released its quarterly earnings results on Friday, October 13th. The company reported C$2.16 earnings per share for the quarter, beating the consensus estimate of C$2.13 by C$0.03. The business had revenue of C$4.13 billion during the quarter, compared to analysts’ expectations of C$4.09 billion. Postmedia Network Canada Corp. had a return on equity of 9.07% and a net margin of 27.30%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS.

The company also recently declared a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, October 16th.

PNC has been the topic of a number of recent research reports. BidaskClub raised Postmedia Network Canada Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Rafferty Capital Markets raised Postmedia Network Canada Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 17th. Zacks Investment Research raised Postmedia Network Canada Corp. from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Friday, July 28th. Deutsche Bank AG reissued a “buy” rating and issued a $130.00 target price (up previously from $120.00) on shares of Postmedia Network Canada Corp. in a report on Tuesday, July 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Postmedia Network Canada Corp. in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of C$133.99.

Postmedia Network Canada Corp. Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for Postmedia Network Canada Corp. (NYSE:PNC)

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