The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Private Trust Co. NA

Private Trust Co. NA grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,944 shares of the financial services provider’s stock after acquiring an additional 341 shares during the period. Private Trust Co. NA’s holdings in The PNC Financial Services Group were worth $1,838,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PNC. International Assets Investment Management LLC grew its holdings in The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after purchasing an additional 532,871 shares during the period. Assenagon Asset Management S.A. grew its stake in The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after acquiring an additional 433,178 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in The PNC Financial Services Group by 152.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after acquiring an additional 276,200 shares in the last quarter. Hsbc Holdings PLC raised its position in The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after acquiring an additional 262,654 shares during the period. Finally, Marshall Wace LLP grew its position in shares of The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 1.1 %

NYSE PNC opened at $212.39 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $127.49 and a 12 month high of $214.64. The stock has a market capitalization of $84.27 billion, a P/E ratio of 17.95, a PEG ratio of 2.20 and a beta of 1.13. The firm’s 50-day moving average is $191.64 and its two-hundred day moving average is $175.22. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company posted $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.01%. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,788 shares of company stock worth $5,573,027. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PNC. Stephens lifted their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays increased their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Finally, Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $189.15.

The PNC Financial Services Group Company Profile

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.