Principal Financial Group Inc. Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Principal Financial Group Inc. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,275,472 shares of the financial services provider’s stock after buying an additional 22,271 shares during the period. Principal Financial Group Inc. owned approximately 0.57% of The PNC Financial Services Group worth $420,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BSN CAPITAL PARTNERS Ltd purchased a new position in The PNC Financial Services Group during the third quarter worth about $12,548,000. Bleakley Financial Group LLC raised its stake in The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in The PNC Financial Services Group during the second quarter worth about $822,000. Equity Investment Corp raised its stake in The PNC Financial Services Group by 3.4% during the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after purchasing an additional 22,188 shares during the period. Finally, Duality Advisers LP raised its stake in The PNC Financial Services Group by 108.5% during the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after purchasing an additional 10,743 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PNC shares. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. 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. Barclays lifted their price target 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. Royal Bank of Canada lifted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Trading Up 8.6 %

Shares of PNC stock opened at $204.97 on Thursday. 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 stock has a market capitalization of $81.33 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. The company has a 50 day moving average price of $184.75 and a 200 day moving average price of $170.42. The PNC Financial Services Group, Inc. has a fifty-two week low of $118.56 and a fifty-two week high of $205.06.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results 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 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 analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the business posted $3.60 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company 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 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%.

Insiders Place Their Bets

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, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now owns 543,523 shares in the company, valued at approximately $102,997,608.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of the business’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 transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,521 shares of company stock worth $2,653,950 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

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.