Capital International Inc. CA boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 18.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,837 shares of the financial services provider's stock after purchasing an additional 2,599 shares during the quarter. Capital International Inc. CA's holdings in The PNC Financial Services Group were worth $3,247,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $25,000. Richardson Financial Services Inc. raised its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. 83.53% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Stephens reaffirmed an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Royal Bank of Canada lowered their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $200.88.
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