The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 219,109 shares of the financial services provider’s stock after acquiring an additional 1,600 shares during the period. Public Sector Pension Investment Board owned about 0.06% of The PNC Financial Services Group worth $40,502,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its holdings in The PNC Financial Services Group by 13.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 1,596 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $52,000. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Sanibel Captiva Trust Company Inc. lifted its position in shares of The PNC Financial Services Group by 15.2% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 19,190 shares of the financial services provider’s stock valued at $3,101,000 after buying an additional 2,532 shares in the last quarter. Finally, Swedbank AB acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at $34,724,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now owns 554,701 shares of the company’s stock, valued at $101,604,582.17. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock valued at $5,573,027 in the last quarter. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PNC. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Barclays raised their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $189.15.

The PNC Financial Services Group Trading Up 0.4 %

Shares of PNC stock opened at $215.00 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a twelve month low of $127.83 and a twelve month high of $216.18. The company’s 50-day moving average price is $192.94 and its 200-day moving average price is $175.90. The stock has a market cap of $85.31 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.22 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.60 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.