Cornerstone Capital Management Holdings LLC. Purchases 6,832 Shares of PNC Financial Services Group Inc (NYSE:PNC)

Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,352 shares of the financial services provider’s stock after purchasing an additional 6,832 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in PNC Financial Services Group were worth $14,335,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Ameriprise Financial Inc. grew its position in shares of PNC Financial Services Group by 21.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,762,394 shares of the financial services provider’s stock worth $507,045,000 after acquiring an additional 657,161 shares in the last quarter. BlackRock Inc. grew its position in shares of PNC Financial Services Group by 1.5% in the 4th quarter. BlackRock Inc. now owns 28,181,864 shares of the financial services provider’s stock worth $4,066,361,000 after acquiring an additional 402,904 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of PNC Financial Services Group by 539.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 423,671 shares of the financial services provider’s stock worth $61,131,000 after acquiring an additional 357,466 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in PNC Financial Services Group by 114.7% during 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 purchasing an additional 352,636 shares during the period. Finally, TD Asset Management Inc. boosted its position in PNC Financial Services Group by 196.5% during the 3rd quarter. TD Asset Management Inc. now owns 527,935 shares of the financial services provider’s stock valued at $71,150,000 after purchasing an additional 349,869 shares during the period. Institutional investors own 82.24% of the company’s stock.

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A number of research analysts recently issued reports on PNC shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $162.00 price objective on shares of PNC Financial Services Group in a research report on Friday, December 29th. Morgan Stanley lifted their target price on PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Goldman Sachs downgraded PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Bank of America lifted their target price on PNC Financial Services Group from $160.00 to $166.00 and gave the company a “buy” rating in a research note on Tuesday, March 13th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $150.00 target price on shares of PNC Financial Services Group in a research note on Friday, January 5th. Nineteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $146.89.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 8,011 shares of the business’s stock in a transaction dated 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 owns 58,820 shares in the company, valued at $9,070,044. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Shares of PNC stock traded down $4.81 on Friday, reaching $147.95. 2,067,714 shares of the company’s stock traded hands, compared to its average volume of 2,103,118. PNC Financial Services Group Inc has a 12-month low of $115.45 and a 12-month high of $163.59. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $69,771.74, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.37 and a beta of 0.91.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 12th. The financial services provider reported $2.29 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 firm 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 company posted $1.97 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. sell-side analysts predict that PNC Financial Services Group Inc will post 10.54 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, May 5th. Shareholders 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 dividend on an annualized basis and a yield of 2.03%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 35.29%.

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About PNC Financial Services Group

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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