Meadow Creek Investment Management LLC Has $4.90 Million Holdings in PNC Financial Services Group Inc (PNC)

Meadow Creek Investment Management LLC grew its stake in PNC Financial Services Group Inc (NYSE:PNC) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,990 shares of the financial services provider’s stock after buying an additional 6,424 shares during the period. Meadow Creek Investment Management LLC’s holdings in PNC Financial Services Group were worth $4,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PNC. Adalta Capital Management LLC bought a new position in PNC Financial Services Group in the fourth quarter worth approximately $202,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in PNC Financial Services Group by 1.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 39,358 shares of the financial services provider’s stock worth $5,678,000 after acquiring an additional 638 shares in the last quarter. AIMZ Investment Advisors LLC bought a new position in PNC Financial Services Group in the fourth quarter worth approximately $202,000. Cornerstone Capital Management Holdings LLC. boosted its holdings in PNC Financial Services Group by 7.4% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 99,352 shares of the financial services provider’s stock worth $14,335,000 after acquiring an additional 6,832 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of PNC Financial Services Group by 2.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 2,986,575 shares of the financial services provider’s stock valued at $430,933,000 after purchasing an additional 69,511 shares in the last quarter. 82.24% of the stock is owned by institutional investors.

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A number of research firms have recently weighed in on PNC. Wells Fargo set a $157.00 target price on PNC Financial Services Group and gave the company a “hold” rating in a report on Tuesday, January 16th. Argus lifted their price target on PNC Financial Services Group to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services Group in a report on Thursday, January 25th. Oppenheimer reiterated a “hold” rating on shares of PNC Financial Services Group in a report on Tuesday, January 16th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $150.00 price target on shares of PNC Financial Services Group in a report on Friday, January 5th. Nineteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $146.89.

In related news, insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total value of $1,235,296.20. Following the transaction, the insider now directly owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Shares of NYSE PNC traded down $4.81 during midday trading on Friday, reaching $147.95. The company had a trading volume of 2,067,504 shares, compared to its average volume of 2,103,118. PNC Financial Services Group Inc has a one year low of $115.45 and a one year high of $163.59. The firm has a market cap of $72,040.15, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.14.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.51% and a net margin of 29.60%. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the business earned $1.97 EPS. PNC Financial Services Group’s revenue was up 10.0% compared to the same quarter last year. equities research analysts forecast that PNC Financial Services Group Inc will post 10.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, May 5th. Investors of record on Monday, April 16th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.03%. PNC Financial Services Group’s payout ratio is currently 35.29%.

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PNC Financial Services Group Profile

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 (NYSE:PNC)

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