Nomura Asset Management Co. Ltd. Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Nomura Asset Management Co. Ltd. grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 5.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 120,022 shares of the financial services provider's stock after acquiring an additional 5,925 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in The PNC Financial Services Group were worth $22,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock worth $26,000 after buying an additional 110 shares in the last quarter. Valley Wealth Managers Inc. grew its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in The PNC Financial Services Group during the second quarter worth approximately $33,000. GPS Wealth Strategies Group LLC purchased a new stake in The PNC Financial Services Group during the second quarter valued at approximately $38,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $51,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm's stock in a transaction dated 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 sale, the director now owns 915 shares of the company's stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,030 shares of company stock worth $5,873,691 over the last quarter. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Down 0.6 %

NYSE PNC traded down $1.18 during trading on Wednesday, reaching $203.26. 1,697,501 shares of the company's stock traded hands, compared to its average volume of 1,867,608. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. 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 firm 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 company's 50 day simple moving average is $197.51 and its two-hundred day simple moving average is $179.28.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued 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 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 PNC Financial Services Group's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.60 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 54.10%.

Analysts Set New Price Targets

Several analysts recently weighed in on PNC shares. Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Evercore ISI raised their target price on shares of 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. Barclays lifted 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. Compass Point increased their price objective 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. Finally, Stephens upped their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $198.02.

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.