Ostrum Asset Management Buys Shares of 6,756 PNC Financial Services Group Inc (PNC)

Ostrum Asset Management bought a new position in PNC Financial Services Group Inc (NYSE:PNC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,756 shares of the financial services provider’s stock, valued at approximately $1,022,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Schroder Investment Management Group boosted its stake in shares of PNC Financial Services Group by 1,052.5% during the 1st quarter. Schroder Investment Management Group now owns 1,283,845 shares of the financial services provider’s stock worth $194,169,000 after buying an additional 1,172,445 shares during the last quarter. BlackRock Inc. boosted its stake in shares of PNC Financial Services Group by 1.5% during the 4th quarter. BlackRock Inc. now owns 28,181,864 shares of the financial services provider’s stock worth $4,066,361,000 after buying an additional 402,904 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 worth $95,251,000 after buying an additional 352,636 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in shares of PNC Financial Services Group during the 4th quarter worth about $37,421,000. Finally, Millennium Management LLC boosted its stake in shares of PNC Financial Services Group by 537.7% during the 4th quarter. Millennium Management LLC now owns 292,243 shares of the financial services provider’s stock worth $42,168,000 after buying an additional 246,414 shares during the last quarter. 81.09% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on PNC shares. Zacks Investment Research downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Susquehanna Bancshares set a $147.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Tuesday, April 10th. Finally, Bank of America raised their target price on shares of PNC Financial Services Group from $166.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Nineteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $149.36.



PNC Financial Services Group stock opened at $147.19 on Wednesday. The stock has a market capitalization of $69.03 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.38 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 Inc has a twelve month low of $118.89 and a twelve month high of $163.59.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.42 by $0.01. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.14 billion. PNC Financial Services Group had a net margin of 29.85% and a return on equity of 9.82%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 EPS. equities analysts forecast that PNC Financial Services Group Inc will post 10.54 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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