Engineers Gate Manager LP Invests $1.23 Million in PNC Financial Services Group Inc (PNC)

Engineers Gate Manager LP purchased a new position in PNC Financial Services Group Inc (NYSE:PNC) during the fourth quarter, Holdings Channel reports. The fund purchased 8,508 shares of the financial services provider’s stock, valued at approximately $1,228,000.

Several other large investors also recently bought and sold shares of PNC. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in PNC Financial Services Group by 217.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock valued at $24,901,000 after acquiring an additional 126,480 shares during the period. California Public Employees Retirement System raised its holdings in PNC Financial Services Group by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,407,491 shares of the financial services provider’s stock valued at $189,688,000 after acquiring an additional 22,434 shares during the period. Stifel Financial Corp raised its holdings in PNC Financial Services Group by 52.8% during the 3rd quarter. Stifel Financial Corp now owns 385,627 shares of the financial services provider’s stock valued at $51,963,000 after acquiring an additional 133,232 shares during the period. AXA raised its holdings in PNC Financial Services Group by 2.1% during the 3rd quarter. AXA now owns 337,039 shares of the financial services provider’s stock valued at $45,423,000 after acquiring an additional 6,903 shares during the period. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in PNC Financial Services Group during the 3rd quarter valued at $549,000. 82.24% of the stock is currently owned by institutional investors.

In related news, insider E William Parsley III sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total value of $3,467,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $140.98, for a total transaction of $704,900.00. The disclosure for this sale can be found here. Insiders sold 103,894 shares of company stock valued at $14,897,513 over the last quarter. 0.43% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on PNC shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $162.00 target price on shares of PNC Financial Services Group in a report on Friday, December 29th. Morgan Stanley boosted their target price on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a report on Tuesday, October 31st. Goldman Sachs Group cut shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Credit Suisse Group reissued a “hold” rating and set a $150.00 target price on shares of PNC Financial Services Group in a report on Friday, January 5th. Eighteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $145.98.

PNC Financial Services Group Inc (NYSE:PNC) opened at $151.71 on Friday. The company has a market cap of $70,656.74, a price-to-earnings ratio of 17.55, a PEG ratio of 1.40 and a beta of 0.93. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a 1 year low of $115.25 and a 1 year high of $160.07.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.97 EPS. sell-side analysts anticipate that PNC Financial Services Group Inc will post 10.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, January 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.98%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 28.85%.

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PNC Financial Services Group Company 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 PNC Financial Services Group (NYSE:PNC)

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