Geode Capital Management LLC Purchases 166,138 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Geode Capital Management LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,367,424 shares of the financial services provider's stock after acquiring an additional 166,138 shares during the quarter. Geode Capital Management LLC owned approximately 2.11% of The PNC Financial Services Group worth $1,541,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RFG Advisory LLC acquired a new position in The PNC Financial Services Group in the second quarter worth approximately $253,000. Sequoia Financial Advisors LLC lifted its position in shares of The PNC Financial Services Group by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 9,073 shares of the financial services provider's stock worth $1,411,000 after buying an additional 352 shares during the last quarter. Diversified Trust Co boosted its stake in shares of The PNC Financial Services Group by 27.6% during the 2nd quarter. Diversified Trust Co now owns 3,665 shares of the financial services provider's stock worth $570,000 after acquiring an additional 793 shares in the last quarter. Great Valley Advisor Group Inc. lifted its holdings in The PNC Financial Services Group by 6.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,759 shares of the financial services provider's stock worth $1,206,000 after purchasing an additional 483 shares during the last quarter. Finally, ORG Partners LLC boosted its position in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock worth $26,000 after purchasing an additional 110 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the transaction, the chief executive officer now directly owns 550,975 shares of the company's stock, valued at $102,729,288.75. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the 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 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. Insiders have sold a total of 29,030 shares of company stock worth $5,873,691 over the last ninety days. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Down 0.6 %

Shares of PNC stock traded down $1.18 during trading on Wednesday, reaching $203.26. The company's stock had a trading volume of 1,697,501 shares, compared to its average volume of 1,867,608. The business has a fifty day moving average price of $197.51 and a 200-day moving average price of $179.28. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $80.65 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results 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 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 net margin of 14.97% and a return on equity of 10.88%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.60 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. 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 3.15%. The PNC Financial Services Group's dividend payout ratio (DPR) is 54.10%.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday. Morgan Stanley increased their price target on shares of 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. Barclays raised their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Stephens increased their target price 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Hold" and an average price target of $198.02.

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.