PNC Financial Services Group, Inc. (The) (PNC) Shares Bought by Foresters Investment Management Company Inc.

Foresters Investment Management Company Inc. boosted its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,435 shares of the financial services provider’s stock after buying an additional 100 shares during the period. Foresters Investment Management Company Inc. owned approximately 0.06% of PNC Financial Services Group, Inc. (The) worth $35,643,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Interstate Bank raised its position in shares of PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after buying an additional 243 shares during the period. Ledyard National Bank raised its position in shares of PNC Financial Services Group, Inc. (The) by 532.1% in the first quarter. Ledyard National Bank now owns 1,182 shares of the financial services provider’s stock valued at $142,000 after buying an additional 995 shares during the period. Pinnacle Bank bought a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at $157,000. Quadrant Capital Group LLC raised its position in shares of PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock valued at $162,000 after buying an additional 39 shares during the period. Finally, Jacobus Wealth Management Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after buying an additional 53 shares during the period. 82.12% of the stock is owned by hedge funds and other institutional investors.

Shares of PNC Financial Services Group, Inc. (PNC) traded down 0.15% during mid-day trading on Friday, reaching $127.11. 1,511,657 shares of the company traded hands. PNC Financial Services Group, Inc. has a 52-week low of $85.09 and a 52-week high of $133.26. The company has a market capitalization of $60.91 billion, a P/E ratio of 16.18 and a beta of 0.93. The firm’s 50 day moving average price is $128.23 and its 200-day moving average price is $123.60.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 EPS. Equities analysts predict that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $2.70 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, July 13th. This is a boost from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 38.12%.

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Several research analysts have weighed in on the stock. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $136.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, August 11th. Wells Fargo & Company assumed coverage on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday, August 9th. They set a “market perform” rating and a $119.00 target price for the company. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $130.00 target price (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $122.57.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the transaction, the insider now directly owns 83,931 shares in the company, valued at $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.

About PNC Financial Services Group, Inc. (The)

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.

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

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