MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1,644.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,050 shares of the financial services provider's stock after purchasing an additional 9,474 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in The PNC Financial Services Group were worth $1,858,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Jennison Associates LLC raised its stake in The PNC Financial Services Group by 38.4% in the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider's stock valued at $169,891,000 after buying an additional 291,769 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider's stock valued at $71,163,000 after purchasing an additional 276,200 shares during the last quarter. Hsbc Holdings PLC boosted its position in The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider's stock worth $209,962,000 after purchasing an additional 262,654 shares during the period. Marshall Wace LLP increased its holdings in shares of The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider's stock valued at $40,277,000 after purchasing an additional 254,356 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of 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 valued at $544,335,000 after purchasing an additional 223,955 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PNC shares. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a "hold" rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an "underperform" rating in a research note on Wednesday, July 17th. Citigroup boosted 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 report on Wednesday, July 17th. Finally, Royal Bank of Canada raised their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an "outperform" rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Hold" and an average target price of $177.65.

The PNC Financial Services Group Trading Up 2.0 %

The PNC Financial Services Group stock traded up $3.82 during trading hours on Tuesday, hitting $192.34. The stock had a trading volume of 2,972,006 shares, compared to its average volume of 1,859,269. The stock has a market cap of $76.53 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The business's 50 day simple moving average is $179.14 and its 200-day simple moving average is $166.39. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $196.64.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.36 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is currently 53.74%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the sale, the chief executive officer now directly owns 558,427 shares in the company, valued at $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company's stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,662 shares of company stock valued at $4,442,555. 0.42% of the stock is currently owned by company insiders.

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.