The PNC Financial Services Group, Inc $PNC Holdings Boosted by Leuthold Group LLC

Leuthold Group LLC boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 10.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,741 shares of the financial services provider’s stock after acquiring an additional 2,355 shares during the quarter. Leuthold Group LLC’s holdings in The PNC Financial Services Group were worth $5,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. BlackRock Inc. bought a new position in shares of The PNC Financial Services Group in the second quarter valued at $7,921,455,000. State Street Corp increased its position in shares of The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock worth $4,538,929,000 after acquiring an additional 765,097 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of The PNC Financial Services Group during the second quarter worth about $2,102,631,000. Deutsche Bank AG acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The PNC Financial Services Group by 1.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock worth $888,309,000 after acquiring an additional 39,112 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $231.52 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50-day moving average of $228.37 and a 200-day moving average of $229.23. The PNC Financial Services Group, Inc has a one year low of $177.08 and a one year high of $258.96. The company has a market cap of $91.86 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.21 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The business had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the previous year, the company earned $4.35 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 19.24 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.58%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America dropped their price target on shares of The PNC Financial Services Group from $291.00 to $276.00 in a research report on Thursday, October 8th. Barclays boosted their price objective on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. HSBC increased their price objective on The PNC Financial Services Group from $275.00 to $283.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Raymond James Financial dropped their target price on The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Finally, Citigroup cut their target price on The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $266.04.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services.

PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.

The company traces its history to 1852 and took its current name following the 1983 merger of Pittsburgh National Corporation and Provident National Corporation.