ARP Americas LP Has $1.90 Million Position in PNC Financial Services Group Inc (PNC)

ARP Americas LP raised its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 698.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,198 shares of the financial services provider’s stock after buying an additional 11,546 shares during the period. ARP Americas LP’s holdings in PNC Financial Services Group were worth $1,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PNC. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in shares of PNC Financial Services Group by 217.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock worth $24,901,000 after buying an additional 126,480 shares during the period. Community Bank N.A. boosted its holdings in PNC Financial Services Group by 75.8% in the 4th quarter. Community Bank N.A. now owns 5,975 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 2,576 shares during the period. California Public Employees Retirement System boosted its holdings in PNC Financial Services Group by 1.6% in the 3rd quarter. California Public Employees Retirement System now owns 1,407,491 shares of the financial services provider’s stock valued at $189,688,000 after purchasing an additional 22,434 shares during the period. Stifel Financial Corp boosted its holdings in PNC Financial Services Group by 52.8% in the 3rd quarter. Stifel Financial Corp now owns 385,627 shares of the financial services provider’s stock valued at $51,963,000 after purchasing an additional 133,232 shares during the period. Finally, AXA boosted its holdings in PNC Financial Services Group by 2.1% in the 3rd quarter. AXA now owns 337,039 shares of the financial services provider’s stock valued at $45,423,000 after purchasing an additional 6,903 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.

In related news, insider Robert Q. Reilly sold 19,576 shares of PNC Financial Services Group stock in a transaction on Friday, December 15th. The shares were sold at an average price of $145.51, for a total value of $2,848,503.76. Following the transaction, the insider now directly owns 103,299 shares of the company’s stock, valued at $15,031,037.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the transaction, the insider now directly owns 58,820 shares in the company, valued at $9,070,044. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

PNC has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of PNC Financial Services Group to $170.00 and gave the stock an “average” rating in a report on Friday, January 12th. Argus upped their price objective on shares of PNC Financial Services Group to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Piper Jaffray Companies restated a “buy” rating and issued a $151.00 price target on shares of PNC Financial Services Group in a research report on Monday, December 4th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a research note on Tuesday, December 26th. Finally, Goldman Sachs Group lowered shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Nineteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $146.89.

Shares of PNC Financial Services Group Inc (PNC) traded down $2.40 during trading on Wednesday, reaching $158.09. 1,922,602 shares of the company’s stock traded hands, compared to its average volume of 2,317,634. PNC Financial Services Group Inc has a twelve month low of $115.25 and a twelve month high of $163.59. The company has a market capitalization of $75,220.00, a price-to-earnings ratio of 19.94, a PEG ratio of 1.51 and a beta of 0.90. 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 posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $2.20 by $0.09. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.51%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. analysts anticipate that PNC Financial Services Group Inc will post 10.44 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “ARP Americas LP Has $1.90 Million Position in PNC Financial Services Group Inc (PNC)” was originally reported by Equities Focus and is the property of of Equities Focus. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.equitiesfocus.com/2018/03/14/arp-americas-lp-boosts-holdings-in-pnc-financial-services-group-inc-pnc.html.

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)

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply