Asset Management One Co. Ltd. Buys 2,251 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Asset Management One Co. Ltd. lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 155,119 shares of the financial services provider’s stock after purchasing an additional 2,251 shares during the period. Asset Management One Co. Ltd.’s holdings in The PNC Financial Services Group were worth $28,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BSN CAPITAL PARTNERS Ltd bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $12,548,000. Bleakley Financial Group LLC lifted its position in shares of The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $822,000. Equity Investment Corp increased its holdings in shares of The PNC Financial Services Group by 3.4% during the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after acquiring an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP raised its stake in The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after acquiring an additional 10,743 shares during the period. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Citigroup increased their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. UBS Group boosted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Stephens increased their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $185.71.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the sale, the chief executive officer now owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,521 shares of company stock valued at $2,653,950. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $185.95 on Tuesday. The firm has a market capitalization of $73.92 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.99 and a beta of 1.13. 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 business’s 50-day moving average price is $184.09 and its 200-day moving average price is $169.92. The PNC Financial Services Group, Inc. has a 12 month low of $118.56 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results 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 firm had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.60 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.