The PNC Financial Services Group, Inc $PNC Stock Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 52.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,900 shares of the financial services provider’s stock after purchasing an additional 29,119 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in The PNC Financial Services Group were worth $18,870,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $28,000. Archer Investment Corp acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $33,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $31,000. Finally, Wilkerson Advisory Group LLC boosted its stake in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.5%

PNC stock opened at $224.49 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $89.56 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.17 and a beta of 0.94. The business has a 50-day moving average of $232.07 and a 200-day moving average of $233.54. The PNC Financial Services Group, Inc has a fifty-two week low of $177.08 and a fifty-two week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The business had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter last year, the firm earned $4.35 EPS. The PNC Financial Services Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 42.58%.

Insider Activity

In other news, EVP Stacy Juchno sold 3,354 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PNC shares. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $269.50 to $258.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Robert W. Baird increased their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Argus lifted their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Raymond James Financial decreased their target price on The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Finally, Stephens reduced their price target on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $266.13.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.