Alps Advisors Inc. Has $1.86 Million Holdings in PNC Financial Services Group Inc (PNC)

Alps Advisors Inc. raised its stake in PNC Financial Services Group Inc (NYSE:PNC) by 297.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,650 shares of the financial services provider’s stock after acquiring an additional 10,219 shares during the period. Alps Advisors Inc.’s holdings in PNC Financial Services Group were worth $1,859,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in shares of PNC Financial Services Group by 5.7% during the second quarter. Jennison Associates LLC now owns 6,520,884 shares of the financial services provider’s stock worth $880,971,000 after purchasing an additional 353,976 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of PNC Financial Services Group by 1.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,960,617 shares of the financial services provider’s stock worth $264,880,000 after purchasing an additional 23,938 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of PNC Financial Services Group by 37.6% during the second quarter. Janus Henderson Group PLC now owns 1,603,307 shares of the financial services provider’s stock worth $216,609,000 after purchasing an additional 437,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of PNC Financial Services Group by 4.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,505,695 shares of the financial services provider’s stock worth $203,419,000 after purchasing an additional 66,364 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of PNC Financial Services Group by 3.6% during the second quarter. Schroder Investment Management Group now owns 1,330,055 shares of the financial services provider’s stock worth $180,315,000 after purchasing an additional 46,210 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Several brokerages have recently commented on PNC. UBS Group set a $137.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a report on Monday, October 15th. Nomura decreased their target price on PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. BMO Capital Markets decreased their target price on PNC Financial Services Group to $139.00 and set an “outperform” rating on the stock in a report on Monday, October 15th. They noted that the move was a valuation call. Morgan Stanley decreased their target price on PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, October 15th. Finally, Deutsche Bank upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating in a report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $154.62.



In related news, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $140.49, for a total value of $3,471,507.90. Following the transaction, the executive vice president now owns 131,020 shares in the company, valued at $18,406,999.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

PNC Financial Services Group stock opened at $122.16 on Tuesday. The stock has a market capitalization of $55.46 billion, a P/E ratio of 14.37, a PEG ratio of 1.18 and a beta of 0.92. PNC Financial Services Group Inc has a 12-month low of $116.55 and a 12-month high of $163.59. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.23.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.09. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.32 billion. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. During the same quarter last year, the business earned $2.16 earnings per share. As a group, equities analysts predict that PNC Financial Services Group Inc will post 10.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Wednesday, October 17th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, October 16th. PNC Financial Services Group’s dividend payout ratio is 44.71%.

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.

Read More: Intrinsic Value

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

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