Royal London Asset Management Ltd. Has $65.48 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Royal London Asset Management Ltd. raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 354,252 shares of the financial services provider's stock after purchasing an additional 7,349 shares during the period. Royal London Asset Management Ltd. owned 0.09% of The PNC Financial Services Group worth $65,483,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CWM LLC boosted its stake in The PNC Financial Services Group by 1.8% in the 2nd quarter. CWM LLC now owns 11,427 shares of the financial services provider's stock valued at $1,777,000 after purchasing an additional 207 shares during the period. CX Institutional grew its stake in shares of The PNC Financial Services Group by 4.2% in the second quarter. CX Institutional now owns 2,383 shares of the financial services provider's stock valued at $371,000 after acquiring an additional 96 shares in the last quarter. OLD National Bancorp IN bought a new position in The PNC Financial Services Group during the second quarter worth about $632,000. QRG Capital Management Inc. raised its stake in The PNC Financial Services Group by 2.7% in the 2nd quarter. QRG Capital Management Inc. now owns 40,562 shares of the financial services provider's stock worth $6,307,000 after purchasing an additional 1,083 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $47,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $0.21 during trading on Friday, hitting $208.62. 1,485,940 shares of the company were exchanged, compared to its average volume of 1,868,289. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 1-year low of $139.19 and a 1-year high of $216.26. The company has a market capitalization of $82.78 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.15. The business's 50 day moving average is $196.11 and its 200-day moving average is $177.92.

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 EPS for the quarter, beating 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 firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $3.60 earnings per share. The business's quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 54.10%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday. Bank of America raised The PNC Financial Services Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Evercore ISI increased their target price on 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. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a research note on Wednesday, October 16th. Finally, Barclays increased their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $195.84.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $268,284.42. Following the sale, the chief executive officer now owns 533,765 shares of the company's stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,788 shares of company stock valued at $5,613,814. Insiders own 0.42% of the company's stock.

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.