Pitcairn Co. Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pitcairn Co. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.0% in the third quarter, HoldingsChannel reports. The fund owned 7,237 shares of the financial services provider’s stock after buying an additional 830 shares during the period. Pitcairn Co.’s holdings in The PNC Financial Services Group were worth $1,338,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PNC. International Assets Investment Management LLC lifted its holdings in shares of The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after acquiring an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of 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 worth $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of 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 during the last quarter. Hsbc Holdings PLC raised its holdings in The PNC Financial Services Group by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after buying an additional 262,654 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after buying an additional 254,356 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the sale, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock valued at $5,317,200 in the last three months. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the subject of a number of recent analyst reports. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens upped 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 report on Wednesday, October 16th. Evercore ISI upped their price target on shares of 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, The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Two 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.96.

The PNC Financial Services Group Stock Up 2.1 %

NYSE:PNC opened at $210.07 on Friday. The firm’s 50-day moving average price is $191.01 and its 200-day moving average price is $174.71. The company has a market capitalization of $83.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.15 and a beta of 1.13. 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, Inc. has a 1-year low of $127.15 and a 1-year high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last released 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 the consensus estimate 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 was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

The PNC Financial Services Group 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.