Empowered Funds LLC Boosts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Empowered Funds LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 448.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,281 shares of the financial services provider's stock after purchasing an additional 27,209 shares during the quarter. Empowered Funds LLC's holdings in The PNC Financial Services Group were worth $6,152,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Capital International Investors increased its position in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider's stock valued at $2,556,195,000 after purchasing an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider's stock worth $746,772,000 after acquiring an additional 18,397 shares during the last quarter. Legal & General Group Plc increased its holdings in The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider's stock worth $544,335,000 after acquiring an additional 223,955 shares during the last quarter. Principal Financial Group Inc. increased its holdings in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after acquiring an additional 22,271 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in The PNC Financial Services Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider's stock worth $346,926,000 after acquiring an additional 100,993 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $0.28 during trading hours on Friday, reaching $207.68. 2,511,633 shares of the company's stock traded hands, compared to its average volume of 1,895,245. The stock has a market cap of $82.40 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.17 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 firm's 50 day simple moving average is $188.25 and its 200-day simple moving average is $173.07. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates 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 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% compared to the same quarter last year. During the same period last year, the firm posted $3.60 EPS. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The PNC Financial Services Group's dividend payout ratio is 54.10%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PNC shares. Evercore ISI lifted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. Bank of America raised The PNC Financial Services Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Barclays lifted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating for the company in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $186.96.

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 PNC Financial Services Group stock in a transaction that occurred 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 transaction, the director now directly owns 38,649 shares of the company's stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $227,497.14. Following the completion of the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,546 shares of company stock valued at $5,277,493. Corporate insiders own 0.42% of the company's stock.

About The PNC Financial Services Group

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.