The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,536 shares of the financial services provider’s stock after buying an additional 2,798 shares during the quarter. Financial Counselors Inc.’s holdings in The PNC Financial Services Group were worth $24,684,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PNC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The PNC Financial Services Group by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock worth $545,380,000 after purchasing an additional 42,887 shares during the last quarter. Public Sector Pension Investment Board grew its position in The PNC Financial Services Group by 0.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 219,109 shares of the financial services provider’s stock worth $40,502,000 after purchasing an additional 1,600 shares during the period. Fiduciary Trust Co raised its stake in shares of The PNC Financial Services Group by 40.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,506 shares of the financial services provider’s stock valued at $2,127,000 after buying an additional 3,301 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The PNC Financial Services Group by 37.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 217,598 shares of the financial services provider’s stock valued at $40,223,000 after buying an additional 58,927 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP acquired a new stake in The PNC Financial Services Group during the third quarter worth about $12,736,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

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

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $215.00 on Thursday. The company has a fifty day simple moving average of $192.94 and a 200-day simple moving average of $175.90. The firm has a market capitalization 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 company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 52-week low of $127.83 and a 52-week high of $216.18.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The company 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 PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 EPS. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on PNC. The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Stephens raised their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Barclays raised their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target 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.