State Street Corp Acquires 100,573 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

State Street Corp lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,299,381 shares of the financial services provider's stock after acquiring an additional 100,573 shares during the period. State Street Corp owned approximately 4.36% of The PNC Financial Services Group worth $3,197,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PNC. ORG Partners LLC grew its position 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 valued at $26,000 after purchasing an additional 110 shares during the period. Valley Wealth Managers Inc. lifted its stake 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 valued at $37,000 after buying an additional 200 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $33,000. GPS Wealth Strategies Group LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $38,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $51,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $0.21 during midday trading on Friday, reaching $208.62. 1,485,940 shares of the company's stock were exchanged, compared to its average volume of 1,868,289. 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 stock's 50-day simple moving average is $196.11 and its 200 day simple moving average is $177.92. The firm has a market cap of $82.78 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 2.19 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 52 week low of $139.19 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the company posted $3.60 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share 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. Stockholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is presently 54.10%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company's stock in a transaction 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 transaction, the director now directly owns 915 shares of the company's stock, valued at $170,299.80. This represents a 48.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the transaction, the chief executive officer now owns 533,765 shares in the company, valued at $115,298,577.65. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,788 shares of company stock worth $5,613,814. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PNC shares. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday. 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. Finally, Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $195.84.

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.