Banque Cantonale Vaudoise Acquires 13,982 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Banque Cantonale Vaudoise grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 91.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,284 shares of the financial services provider's stock after purchasing an additional 13,982 shares during the period. Banque Cantonale Vaudoise's holdings in The PNC Financial Services Group were worth $5,413,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in The PNC Financial Services Group by 12,940.0% during the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider's stock valued at $99,262,000 after buying an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock valued at $129,836,000 after acquiring an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in The PNC Financial Services Group by 152.2% in 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 in the last quarter. Hsbc Holdings PLC raised its position in 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. Finally, Marshall Wace LLP raised its position in 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 period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The shares were 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 approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,788 shares of company stock worth $5,535,978. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.0 %

NYSE PNC traded down $1.97 during trading on Tuesday, hitting $204.86. 1,543,365 shares of the company traded hands, compared to its average volume of 1,872,186. The company has a market capitalization of $81.28 billion, a P/E ratio of 17.35, a PEG ratio of 2.17 and a beta of 1.13. The business has a fifty day simple moving average of $188.73 and a 200 day simple moving average of $173.43. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share 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 quarter in the prior year, the company earned $3.60 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 54.10%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Compass Point lowered shares of The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, October 16th. Finally, Stephens increased their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Two 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 MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus price target of $186.96.

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.