Financial Counselors Inc. Buys 2,798 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Counselors Inc. grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,536 shares of the financial services provider’s stock after purchasing an additional 2,798 shares during the period. Financial Counselors Inc.’s holdings in The PNC Financial Services Group were worth $24,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. International Assets Investment Management LLC increased 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 acquiring an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position 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 worth $71,163,000 after purchasing an additional 276,200 shares during the period. Hsbc Holdings PLC lifted its stake 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 purchasing an additional 262,654 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of 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 valued at $40,277,000 after buying an additional 254,356 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNC. Evercore ISI raised their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $189.15.

The PNC Financial Services Group Price Performance

PNC opened at $215.00 on Thursday. The firm has a market capitalization of $85.31 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The business’s 50-day moving average is $192.94 and its two-hundred day moving average is $175.90. The PNC Financial Services Group, Inc. has a 1 year low of $127.83 and a 1 year high of $216.18. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.60 EPS. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $181.35, for a total transaction of $225,236.70. Following the completion of the transaction, the chief executive officer now directly owns 548,491 shares of the company’s stock, valued at approximately $99,468,842.85. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock valued at $5,573,027 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.