FormulaFolio Investments LLC Has $556,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)


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FormulaFolio Investments LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 93.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,732 shares of the financial services provider’s stock after buying an additional 1,804 shares during the period. FormulaFolio Investments LLC’s holdings in The PNC Financial Services Group were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in The PNC Financial Services Group by 9.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,391,754 shares of the financial services provider’s stock worth $3,932,371,000 after purchasing an additional 2,230,186 shares during the period. FMR LLC grew its stake in The PNC Financial Services Group by 57.8% during the fourth quarter. FMR LLC now owns 8,399,370 shares of the financial services provider’s stock worth $1,251,506,000 after purchasing an additional 3,076,159 shares during the period. Aristotle Capital Management LLC grew its stake in The PNC Financial Services Group by 2.4% during the fourth quarter. Aristotle Capital Management LLC now owns 5,826,993 shares of the financial services provider’s stock worth $868,222,000 after purchasing an additional 134,065 shares during the period. Norges Bank acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $671,132,000. Finally, Morgan Stanley grew its stake in The PNC Financial Services Group by 34.7% during the fourth quarter. Morgan Stanley now owns 3,388,311 shares of the financial services provider’s stock worth $504,860,000 after purchasing an additional 873,125 shares during the period. 80.56% of the stock is owned by institutional investors.

NYSE:PNC opened at $178.25 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day simple moving average of $175.00 and a two-hundred day simple moving average of $144.72. The PNC Financial Services Group, Inc. has a 1 year low of $89.13 and a 1 year high of $184.33. The company has a market capitalization of $75.58 billion, a P/E ratio of 10.67, a P/E/G ratio of 3.33 and a beta of 1.38.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 14th. The financial services provider reported $3.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.61. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.10 billion. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.97 earnings per share. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 6.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 5th. Stockholders of record on Friday, April 16th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, April 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.39%.

In related news, EVP Guild Deborah sold 3,840 shares of the business’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $151.37, for a total transaction of $581,260.80. Following the completion of the transaction, the executive vice president now directly owns 18,804 shares in the company, valued at $2,846,361.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Karen L. Larrimer sold 3,205 shares of the business’s stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $156.92, for a total value of $502,928.60. Following the transaction, the executive vice president now owns 24,580 shares of the company’s stock, valued at $3,857,093.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,295 shares of company stock valued at $1,128,071. 0.30% of the stock is owned by company insiders.

A number of equities research analysts have commented on PNC shares. Credit Suisse Group raised their price objective on The PNC Financial Services Group from $120.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, December 11th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $177.00 to $182.00 and gave the company an “equal weight” rating in a research note on Monday, March 8th. Deutsche Bank Aktiengesellschaft raised their target price on The PNC Financial Services Group from $157.00 to $190.00 and gave the company a “hold” rating in a report on Thursday, April 1st. Barclays raised their target price on The PNC Financial Services Group from $171.00 to $182.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $179.00 in a report on Monday, January 11th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $156.29.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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