CIBC Asset Management Inc Boosts Holdings in PNC Financial Services Group Inc (PNC)

CIBC Asset Management Inc boosted its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 43.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 77,721 shares of the financial services provider’s stock after buying an additional 23,553 shares during the period. CIBC Asset Management Inc’s holdings in PNC Financial Services Group were worth $9,533,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Federated Investors Inc. PA lifted its holdings in shares of PNC Financial Services Group by 9.5% in the 3rd quarter. Federated Investors Inc. PA now owns 169,571 shares of the financial services provider’s stock worth $23,093,000 after purchasing an additional 14,736 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of PNC Financial Services Group by 45.3% in the 4th quarter. First Hawaiian Bank now owns 4,871 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 1,518 shares in the last quarter. Coastline Trust Co lifted its holdings in shares of PNC Financial Services Group by 3.8% in the 4th quarter. Coastline Trust Co now owns 4,525 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 165 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new position in shares of PNC Financial Services Group in the 4th quarter worth $43,000. Finally, Windsor Group LTD lifted its holdings in shares of PNC Financial Services Group by 3.6% in the 4th quarter. Windsor Group LTD now owns 3,819 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

In other news, insider Joseph E. Rockey sold 6,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the sale, the insider now directly owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff bought 500 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were acquired at an average cost of $125.69 per share, with a total value of $62,845.00. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.

A number of equities research analysts recently commented on PNC shares. ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Zacks Investment Research raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. UBS Group set a $133.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Morgan Stanley increased their price target on PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Barclays increased their price target on PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $143.63.

Shares of PNC Financial Services Group stock opened at $129.76 on Wednesday. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $152.29. The firm has a market cap of $57.99 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.49 and a beta of 1.09. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm posted $2.43 EPS. Equities analysts expect that PNC Financial Services Group Inc will post 11.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Tuesday, April 16th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, April 15th. PNC Financial Services Group’s dividend payout ratio is presently 35.48%.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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