M&G Plc Has $8.48 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

M&G PLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 17.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,855 shares of the financial services provider's stock after selling 9,405 shares during the quarter. M&G PLC's holdings in The PNC Financial Services Group were worth $8,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PNC. Concurrent Investment Advisors LLC increased its stake in The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider's stock valued at $1,185,000 after buying an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd bought a new stake in The PNC Financial Services Group during the third quarter worth approximately $12,548,000. Bleakley Financial Group LLC raised its holdings in The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider's stock worth $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in The PNC Financial Services Group in the second quarter worth approximately $822,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $18,159,000. Institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their target price 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. Stephens raised their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their target price 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 note on Wednesday, September 11th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $185.71.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred 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 transaction, the director now owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares of the company's stock, valued at $97,929,359.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,279 shares of company stock valued at $2,442,673 in the last three months. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Up 0.4 %

Shares of NYSE PNC traded up $0.76 during mid-day trading on Friday, reaching $203.97. The company had a trading volume of 1,888,935 shares, compared to its average volume of 1,869,772. The stock has a fifty day moving average of $185.53 and a two-hundred day moving average of $170.98. The PNC Financial Services Group, Inc. has a 12-month low of $118.56 and a 12-month high of $205.20. The company has a market capitalization of $80.93 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.17 and a beta of 1.13. 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 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business posted $3.60 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced 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 3.14%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 54.10%.

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.