Los Angeles Capital Management LLC Raises Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Los Angeles Capital Management LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 77.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,518 shares of the financial services provider's stock after purchasing an additional 65,620 shares during the quarter. Los Angeles Capital Management LLC's holdings in The PNC Financial Services Group were worth $27,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors raised its position in The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider's stock worth $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. raised its position in The PNC Financial Services Group by 0.4% in the second 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 period. Legal & General Group Plc raised its position in The PNC Financial Services Group by 6.8% in the second 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 period. Principal Financial Group Inc. raised its position in The PNC Financial Services Group by 1.0% in the third 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 period. Finally, Dimensional Fund Advisors LP raised its position in The PNC Financial Services Group by 4.7% in the second 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 period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company's stock, valued at approximately $104,052,553.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares in the company, valued at $104,052,553.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the business's 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 transaction, the director now owns 915 shares of the company's stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,279 shares of company stock valued at $2,442,673. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

NYSE:PNC traded up $5.74 during trading hours on Monday, reaching $209.71. The stock had a trading volume of 2,328,277 shares, compared to its average volume of 1,873,023. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 52 week low of $118.89 and a 52 week high of $210.43. The company has a 50 day moving average price of $185.53 and a two-hundred day moving average price of $171.17. The stock has a market capitalization of $83.21 billion, a PE ratio of 17.24, a PEG ratio of 2.16 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced 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. This represents a $6.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an "outperform" rating in a research report on Wednesday, July 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Two equities research 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. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus target price of $185.71.

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.