The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 160.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 702,384 shares of the financial services provider’s stock after acquiring an additional 433,178 shares during the period. Assenagon Asset Management S.A.’s holdings in The PNC Financial Services Group were worth $129,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PNC. Bank & Trust Co bought a new position in The PNC Financial Services Group during the 2nd quarter valued at $26,000. ORG Partners LLC lifted its holdings in shares of 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 buying an additional 110 shares during the period. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth about $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group in the first quarter worth about $29,000. Finally, Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $33,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PNC shares. Evercore ISI lifted their price objective on shares of 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. Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Barclays boosted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group lifted their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. 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’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $185.71.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction 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 owns 560,911 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock worth $4,459,819 in the last 90 days. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.1 %

Shares of NYSE PNC traded up $0.21 during mid-day trading on Thursday, reaching $188.42. The company had a trading volume of 505,313 shares, compared to its average volume of 1,862,537. The stock has a market capitalization of $74.90 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $196.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81. The stock’s 50 day moving average is $181.96 and its 200-day moving average is $167.82.

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 for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $3.60 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.40%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

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.