Aljian Capital Management LLC Makes New $839,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Aljian Capital Management LLC purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,536 shares of the financial services provider's stock, valued at approximately $839,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $292,000. UniSuper Management Pty Ltd raised its holdings in shares of 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 worth $948,000 after acquiring an additional 5,393 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at $4,299,000. Bessemer Group Inc. boosted its stake in shares of The PNC Financial Services Group by 35.0% during the first quarter. Bessemer Group Inc. now owns 65,541 shares of the financial services provider's stock valued at $10,591,000 after acquiring an additional 17,008 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its position in The PNC Financial Services Group by 11.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 11,126 shares of the financial services provider's stock worth $1,798,000 after purchasing an additional 1,159 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PNC. Stephens lifted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Barclays boosted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. Morgan Stanley upped their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods raised their price target on 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. Two equities research 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 company presently has a consensus rating of "Hold" and an average price target of $186.96.

The PNC Financial Services Group Stock Down 0.4 %

NYSE:PNC traded down $0.85 during mid-day trading on Monday, hitting $206.83. The company had a trading volume of 1,652,343 shares, compared to its average volume of 1,873,661. The PNC Financial Services Group, Inc. has a 1 year low of $127.08 and a 1 year high of $214.19. The business has a fifty day simple moving average of $188.73 and a 200-day simple moving average of $173.43. 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 firm has a market capitalization of $82.07 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.60 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.09%. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, 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 approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on 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 transaction, the director now 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 sold a total of 27,788 shares of company stock valued at $5,535,978 in the last ninety days. Insiders own 0.42% of the company's stock.

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.