The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Forsta AP Fonden

Forsta AP Fonden lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,400 shares of the financial services provider's stock after acquiring an additional 9,600 shares during the quarter. Forsta AP Fonden's holdings in The PNC Financial Services Group were worth $21,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Capital International Investors grew its stake in shares of 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 valued at $2,556,195,000 after buying an additional 78,407 shares in the last quarter. Ameriprise Financial Inc. grew 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 valued at $746,772,000 after acquiring an additional 18,397 shares in the last quarter. Legal & General Group Plc raised its stake in shares of The PNC Financial Services Group by 6.8% during 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. Dimensional Fund Advisors LP lifted its position in shares of The PNC Financial Services Group by 4.7% during 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 purchasing an additional 100,993 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider's stock valued at $209,962,000 after purchasing an additional 262,654 shares during the period. 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 PNC Financial Services Group stock in a transaction 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 of the company's stock, valued at $170,299.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff sold 859 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, 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. Over the last 90 days, insiders have sold 24,279 shares of company stock worth $4,395,540. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

PNC has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating for the company in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group increased their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a "hold" rating in a research note on Wednesday, July 3rd. Two 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.com, the company currently has a consensus rating of "Hold" and an average price target of $185.71.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded down $3.12 during mid-day trading on Friday, hitting $185.82. The company had a trading volume of 1,319,036 shares, compared to its average volume of 1,863,221. The stock has a market cap of $73.94 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.98 and a beta of 1.14. The firm's 50 day simple moving average is $182.56 and its two-hundred day simple moving average is $168.14. 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 PNC Financial Services Group, Inc. has a 12 month low of $110.79 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) 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 firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.60 earnings per share. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 53.74%.

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.