PNC Financial Services Group Inc (PNC) Holdings Lifted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in PNC Financial Services Group Inc (NYSE:PNC) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,426 shares of the financial services provider’s stock after purchasing an additional 1,258 shares during the period. Daiwa Securities Group Inc.’s holdings in PNC Financial Services Group were worth $2,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Private Advisor Group LLC grew its position in PNC Financial Services Group by 50.6% in the 3rd quarter. Private Advisor Group LLC now owns 48,528 shares of the financial services provider’s stock worth $6,609,000 after purchasing an additional 16,296 shares during the last quarter. Boston Common Asset Management LLC grew its position in PNC Financial Services Group by 3.8% in the 3rd quarter. Boston Common Asset Management LLC now owns 55,083 shares of the financial services provider’s stock worth $7,502,000 after purchasing an additional 1,995 shares during the last quarter. Synovus Financial Corp grew its position in PNC Financial Services Group by 33.6% in the 3rd quarter. Synovus Financial Corp now owns 13,553 shares of the financial services provider’s stock worth $1,845,000 after purchasing an additional 3,408 shares during the last quarter. Sterling Capital Management LLC grew its position in PNC Financial Services Group by 27.9% in the 3rd quarter. Sterling Capital Management LLC now owns 49,362 shares of the financial services provider’s stock worth $6,723,000 after purchasing an additional 10,754 shares during the last quarter. Finally, Kaizen Advisory LLC grew its position in PNC Financial Services Group by 614.4% in the 3rd quarter. Kaizen Advisory LLC now owns 8,216 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 7,066 shares during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.

In related news, EVP Robert Q. Reilly sold 24,710 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the completion of the sale, the executive vice president now directly owns 131,020 shares of the company’s stock, valued at $18,406,999.80. The transaction 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 corporate insiders.

A number of brokerages have recently weighed in on PNC. UBS Group set a $137.00 price target on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research note on Monday, October 15th. Nomura reduced their price target on shares of PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, October 15th. Vining Sparks reaffirmed a “buy” rating and issued a $160.00 price target on shares of PNC Financial Services Group in a research note on Tuesday, October 9th. ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, BMO Capital Markets reduced their price target on shares of PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a research note on Monday, October 15th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $155.50.

Shares of NYSE:PNC opened at $134.23 on Friday. PNC Financial Services Group Inc has a twelve month low of $116.55 and a twelve month high of $163.59. The company has a market capitalization of $60.80 billion, a PE ratio of 15.79, a P/E/G ratio of 1.30 and a beta of 0.92. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.11.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the business earned $2.16 earnings per share. Equities analysts forecast that PNC Financial Services Group Inc will post 10.75 earnings per share for the current year.

PNC Financial Services Group announced that its board has approved a stock repurchase plan on Thursday, November 8th that allows the company to buyback $900.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Wednesday, October 17th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.83%. The ex-dividend date was Tuesday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 44.71%.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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