UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 2,950,394 shares of the financial services provider’s stock after buying an additional 42,887 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in The PNC Financial Services Group were worth $545,380,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PNC. Bank & Trust Co purchased a new position in The PNC Financial Services Group during the second quarter worth about $26,000. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% during 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 last quarter. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $28,000. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the second quarter valued at about $33,000. Finally, Valley Wealth Managers Inc. increased its position in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the sale, the chief executive officer now owns 549,733 shares in the company, valued at approximately $101,007,941.42. The trade was a 0.23 % 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 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,546 shares of company stock worth $5,345,530. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PNC. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. 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. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $189.15.

The PNC Financial Services Group Trading Up 0.4 %

NYSE PNC opened at $215.00 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 52 week low of $127.83 and a 52 week high of $216.18. The stock has a market capitalization of $85.31 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13. The firm has a 50 day moving average of $193.50 and a two-hundred day moving average of $176.17.

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. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio is presently 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.