The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 624 shares of the financial services provider’s stock after acquiring an additional 50 shares during the quarter. Loomis Sayles & Co. L P’s holdings in The PNC Financial Services Group were worth $115,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its stake 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 worth $99,262,000 after purchasing an additional 532,871 shares during the period. Assenagon Asset Management S.A. increased 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 worth $129,836,000 after buying an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in The PNC Financial Services Group by 152.2% in the second 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 acquiring an additional 276,200 shares during the last quarter. Hsbc Holdings PLC grew 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 worth $209,962,000 after acquiring an additional 262,654 shares during the period. Finally, Marshall Wace LLP increased its stake in The PNC Financial Services Group by 5,419.9% during the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after acquiring an additional 254,356 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.4 %

PNC stock opened at $215.00 on Friday. The company’s 50 day moving average price is $193.50 and its 200 day moving average price is $176.17. The firm has a market capitalization of $85.31 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.22 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.83 and a fifty-two week high of $216.18. 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) last announced 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.60 EPS. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal 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 issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the sale, the chief executive officer now directly owns 535,007 shares in the company, valued at approximately $110,200,741.86. 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 have sold 26,546 shares of company stock worth $5,345,530. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Compass Point cut 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 price target 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 report on Wednesday, September 11th. Stephens increased their price objective 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 report on Wednesday, October 16th. Evercore ISI boosted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $189.15.

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.