OVERSEA CHINESE BANKING Corp Ltd Makes New $268,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,450 shares of the financial services provider’s stock, valued at approximately $268,000.

A number of other hedge funds have also modified their holdings of PNC. ORG Partners LLC grew its position in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the period. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $26,000. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth about $28,000. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $33,000. Finally, GPS Wealth Strategies Group LLC bought a new position in The PNC Financial Services Group during the 2nd quarter valued at about $38,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.8 %

Shares of NYSE PNC opened at $209.27 on Thursday. The PNC Financial Services Group, Inc. has a fifty-two week low of $122.75 and a fifty-two week high of $214.19. The firm has a market capitalization of $83.03 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.13. 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 company’s 50 day simple moving average is $186.55 and its 200 day simple moving average is $171.93.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.60 EPS. On average, analysts predict that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid 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 3.06%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the transaction, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,490,869 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada raised their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price objective 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 raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced 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 research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $185.71.

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.