Border to Coast Pensions Partnership Ltd Grows Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Border to Coast Pensions Partnership Ltd boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,299 shares of the financial services provider’s stock after purchasing an additional 4,961 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in The PNC Financial Services Group were worth $21,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Jennison Associates LLC increased its stake in The PNC Financial Services Group by 38.4% in the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after purchasing an additional 291,769 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in The PNC Financial Services Group by 152.2% during 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 buying an additional 276,200 shares in the last quarter. Hsbc Holdings PLC boosted its position in The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after buying an additional 262,654 shares during the period. Marshall Wace LLP grew its stake in The PNC Financial Services Group by 5,419.9% in the 2nd 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 in the last quarter. Finally, Legal & General Group Plc increased its position in shares of The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after acquiring an additional 223,955 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.7 %

Shares of NYSE:PNC traded down $3.13 during trading on Monday, hitting $186.25. The company’s stock had a trading volume of 788,740 shares, compared to its average volume of 1,864,037. The business has a 50 day moving average price of $180.83 and a two-hundred day moving average price of $167.27. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $196.64. The company has a market capitalization of $74.11 billion, a PE ratio of 15.90, a P/E/G ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares in the company, valued at approximately $101,233,217.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the sale, the chief executive officer now directly owns 560,911 shares in the company, valued at approximately $101,233,217.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,662 shares of company stock worth $4,459,819 over the last 90 days. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PNC. Morgan Stanley upped their target price 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. Barclays raised their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. 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. Finally, Jefferies Financial Group boosted their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $185.71.

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.