Fisher Asset Management LLC Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fisher Asset Management LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,737 shares of the financial services provider’s stock after buying an additional 143 shares during the period. Fisher Asset Management LLC’s holdings in The PNC Financial Services Group were worth $721,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $346,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PNC shares. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Finally, Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,421,788. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $178.87 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $70.79 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The firm’s 50 day moving average is $194.47 and its two-hundred day moving average is $192.65.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

About The PNC Financial Services Group

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 segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.