The PNC Financial Services Group, Inc $PNC Stock Holdings Lessened by TD Asset Management Inc

TD Asset Management Inc lowered its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 190,806 shares of the financial services provider’s stock after selling 10,663 shares during the period. TD Asset Management Inc’s holdings in The PNC Financial Services Group were worth $35,570,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Saudi Central Bank purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at $27,000. Concord Wealth Partners raised its holdings in The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the period. Cornerstone Planning Group LLC raised its holdings in The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 65 shares during the period. WPG Advisers LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth about $36,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $41,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PNC shares. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Morgan Stanley upped their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Finally, Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $178.18 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.80. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock’s 50-day moving average is $198.30 and its two-hundred day moving average is $183.78. The firm has a market cap of $70.17 billion, a P/E ratio of 11.51, a PEG ratio of 1.27 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.49 EPS. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.51%.

The PNC Financial Services Group Company Profile

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.