Cullinan Associates Inc. decreased its position in PNC Financial Services Group Inc (NYSE:PNC) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,970 shares of the financial services provider’s stock after selling 2,100 shares during the period. Cullinan Associates Inc.’s holdings in PNC Financial Services Group were worth $2,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Capital International Investors grew its position in PNC Financial Services Group by 105.5% in the 3rd quarter. Capital International Investors now owns 2,332,232 shares of the financial services provider’s stock worth $317,627,000 after purchasing an additional 1,197,093 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of PNC Financial Services Group by 38.0% in the third quarter. Clearbridge Investments LLC now owns 1,915,660 shares of the financial services provider’s stock valued at $260,894,000 after acquiring an additional 527,145 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of PNC Financial Services Group by 932.7% in the second quarter. Advisors Asset Management Inc. now owns 382,419 shares of the financial services provider’s stock valued at $4,098,000 after acquiring an additional 345,388 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of PNC Financial Services Group by 54.0% in the third quarter. Prudential Financial Inc. now owns 954,849 shares of the financial services provider’s stock valued at $130,041,000 after acquiring an additional 335,010 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of PNC Financial Services Group by 557.2% in the second quarter. Millennium Management LLC now owns 354,139 shares of the financial services provider’s stock valued at $47,844,000 after acquiring an additional 300,255 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

PNC stock opened at $120.05 on Friday. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $163.59. The company has a market cap of $55.74 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.13 and a beta of 1.03. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.11.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the business earned $2.16 earnings per share. Equities analysts predict that PNC Financial Services Group Inc will post 10.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 5th. Investors of record on Thursday, January 17th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, January 16th. PNC Financial Services Group’s dividend payout ratio is presently 44.71%.

PNC Financial Services Group announced that its Board of Directors has approved a stock buyback plan on Thursday, November 8th that permits the company to repurchase $900.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

PNC has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating for the company in a report on Wednesday, January 2nd. Sanford C. Bernstein upgraded shares of PNC Financial Services Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $158.00 to $145.00 in a report on Monday, October 15th. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 11th. Bank of America cut shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets cut shares of PNC Financial Services Group from an “outperform” rating to a “market perform” rating and set a $139.00 price objective for the company. in a report on Monday, November 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $151.00.

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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 and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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