Toronto Dominion Bank Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Toronto Dominion Bank lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 129.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 447,755 shares of the financial services provider's stock after purchasing an additional 252,473 shares during the quarter. Toronto Dominion Bank owned 0.11% of The PNC Financial Services Group worth $82,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. State Street Corp lifted its position in shares of The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the period. Geode Capital Management LLC increased its stake in The PNC Financial Services Group by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock valued at $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Ameriprise Financial Inc. increased its stake in The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider's stock valued at $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Legal & General Group Plc increased its stake in The PNC Financial Services Group by 6.8% during the 2nd 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in The PNC Financial Services Group by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider's stock valued at $545,380,000 after purchasing an additional 42,887 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PNC. Bank of America upgraded shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Citigroup upped their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $198.02.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the sale, the chief executive officer now directly owns 532,523 shares in the company, valued at $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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 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. Over the last ninety days, insiders sold 29,030 shares of company stock worth $5,873,691. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $0.60 on Wednesday, reaching $203.84. The stock had a trading volume of 955,807 shares, compared to its average volume of 1,864,386. The business's 50 day moving average is $197.51 and its two-hundred day moving average is $179.28. 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, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a market cap of $80.88 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 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 period last year, the business earned $3.60 earnings per share. The PNC Financial Services Group's revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.14%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 54.10%.

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.