The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 110,257 shares of the financial services provider's stock after buying an additional 4,065 shares during the period. CIBC Asset Management Inc's holdings in The PNC Financial Services Group were worth $20,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. ORG Partners LLC raised its stake in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 110 shares during the period. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the second quarter worth $26,000. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group during the first quarter worth $28,000. Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the second quarter valued at $33,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $38,000. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, 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 transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company's stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,277,493 over the last three months. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.1 %

Shares of NYSE:PNC traded down $0.28 on Friday, hitting $207.68. 2,511,633 shares of the company's stock were exchanged, compared to its average volume of 1,874,656. The stock has a market capitalization of $82.40 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. 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 debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The business's 50 day simple moving average is $188.25 and its two-hundred day simple moving average is $172.80.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during 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 firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 EPS. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.08%. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PNC shares. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating for the company in a research report on Wednesday, September 11th. Morgan Stanley raised their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, October 16th. Stephens upped their price objective on 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 raised their target price on shares of 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a research note on Wednesday, October 16th. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $186.96.

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.