Cambridge Investment Research Advisors Inc. Acquires 900 Shares of PNC Financial Services (PNC)

Cambridge Investment Research Advisors Inc. boosted its holdings in PNC Financial Services (NYSE:PNC) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,104 shares of the financial services provider’s stock after buying an additional 900 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in PNC Financial Services were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PNC. BlackRock Inc. grew its stake in PNC Financial Services by 1.5% in the 4th quarter. BlackRock Inc. now owns 28,181,864 shares of the financial services provider’s stock valued at $4,066,361,000 after buying an additional 402,904 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in PNC Financial Services by 539.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 423,671 shares of the financial services provider’s stock valued at $61,131,000 after buying an additional 357,466 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in PNC Financial Services by 114.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 660,136 shares of the financial services provider’s stock valued at $95,251,000 after buying an additional 352,636 shares in the last quarter. Discovery Capital Management LLC CT purchased a new position in PNC Financial Services in the 4th quarter valued at approximately $37,421,000. Finally, Millennium Management LLC grew its stake in PNC Financial Services by 537.7% in the 4th quarter. Millennium Management LLC now owns 292,243 shares of the financial services provider’s stock valued at $42,168,000 after buying an additional 246,414 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

A number of research firms recently weighed in on PNC. Bank of America lifted their price objective on shares of PNC Financial Services from $166.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Susquehanna Bancshares set a $147.00 price objective on shares of PNC Financial Services and gave the company a “hold” rating in a research note on Tuesday, April 10th. Zacks Investment Research lowered shares of PNC Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Morgan Stanley boosted their price target on shares of PNC Financial Services from $165.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Finally, BMO Capital Markets restated a “buy” rating on shares of PNC Financial Services in a research report on Thursday, January 25th. Nineteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $149.36.

Shares of PNC Financial Services opened at $149.73 on Thursday, MarketBeat.com reports. PNC Financial Services has a 52-week low of $116.63 and a 52-week high of $163.59. The firm has a market capitalization of $70.16 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.41 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.14.

PNC Financial Services (NYSE:PNC) last announced its earnings results on Friday, April 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.01. PNC Financial Services had a net margin of 29.85% and a return on equity of 9.82%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. sell-side analysts predict that PNC Financial Services will post 10.54 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, May 5th. Investors of record on Monday, April 16th were given a $0.75 dividend. The ex-dividend date was Friday, April 13th. This represents a $3.00 annualized dividend and a yield of 2.00%. PNC Financial Services’s dividend payout ratio (DPR) is presently 35.29%.

About PNC Financial Services

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 (NYSE:PNC)

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