The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Lifted by Plato Investment Management Ltd

Plato Investment Management Ltd lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,559 shares of the financial services provider’s stock after buying an additional 543 shares during the quarter. Plato Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $1,581,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC lifted its position in shares of The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $12,548,000. Bleakley Financial Group LLC lifted its position in The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $822,000. Finally, Manning & Napier Advisors LLC bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $18,159,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $207.96 on Friday. The firm’s 50 day moving average is $187.09 and its 200-day moving average is $172.19. The stock has a market capitalization of $82.51 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.21 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 12-month low of $126.41 and a 12-month high of $214.19.

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, topping the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion for 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Stephens lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Barclays lifted 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 research report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group cut their price objective on shares of 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $185.71.

Insider Transactions at The PNC Financial Services Group

In other 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 transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group 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 completion of the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock valued at $5,277,493 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

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.