The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,694 shares of the financial services provider’s stock after acquiring an additional 530 shares during the period. Raymond James Trust N.A.’s holdings in The PNC Financial Services Group were worth $7,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd boosted its position in The PNC Financial Services Group by 1,142.6% in the first quarter. UniSuper Management Pty Ltd now owns 5,865 shares of the financial services provider’s stock valued at $948,000 after buying an additional 5,393 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of The PNC Financial Services Group by 182.7% in the 1st quarter. CreativeOne Wealth LLC now owns 4,283 shares of the financial services provider’s stock valued at $692,000 after buying an additional 2,768 shares during the period. Capital International Inc. CA lifted its holdings in shares of The PNC Financial Services Group by 26.7% in the 1st quarter. Capital International Inc. CA now owns 10,269 shares of the financial services provider’s stock valued at $1,659,000 after buying an additional 2,161 shares during the period. Canada Pension Plan Investment Board grew its holdings in The PNC Financial Services Group by 43.9% during the first quarter. Canada Pension Plan Investment Board now owns 287,126 shares of the financial services provider’s stock worth $46,400,000 after acquiring an additional 87,621 shares during the period. Finally, LRI Investments LLC acquired a new stake in The PNC Financial Services Group during the first quarter worth about $243,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Barclays upped their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Evercore ISI raised their target price 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. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Two equities 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 MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $186.96.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction 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 in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,546 shares of company stock valued at $5,317,200. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Up 0.9 %

Shares of NYSE PNC opened at $205.75 on Friday. The stock has a market cap of $81.64 billion, a PE ratio of 17.39, a P/E/G ratio of 2.14 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 PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19. The company has a 50-day moving average of $190.35 and a 200 day moving average of $174.21.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.60 earnings per share. As a group, sell-side analysts predict 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 company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.11%. The PNC Financial Services Group’s payout ratio is 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.