Bank of Montreal Can Trims Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Bank of Montreal Can lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 997,786 shares of the financial services provider’s stock after selling 82,463 shares during the period. Bank of Montreal Can owned 0.25% of The PNC Financial Services Group worth $182,665,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in shares of The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after acquiring an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in The PNC Financial Services Group by 160.9% during the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after purchasing an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake 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 buying an additional 276,200 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of 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 in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, 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 stock was 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 $101,604,582.17. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,573,027 over the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Up 1.1 %

Shares of NYSE:PNC opened at $212.39 on Tuesday. The PNC Financial Services Group, Inc. has a 1 year low of $127.49 and a 1 year high of $214.64. 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 stock’s 50-day moving average is $191.64 and its 200 day moving average is $175.22. The company has a market cap of $84.27 billion, a PE ratio of 17.95, a P/E/G ratio of 2.20 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’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 earned $3.60 earnings per share. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders 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 dividend yield of 3.01%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup upped their target price 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. Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Stephens increased 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. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $189.15.

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.