Mirae Asset Global Investments Co. Ltd. Buys 5,223 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 19.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,993 shares of the financial services provider’s stock after purchasing an additional 5,223 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in The PNC Financial Services Group were worth $5,857,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after acquiring an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after purchasing an additional 433,178 shares during the last quarter. Jennison Associates LLC boosted its stake in The PNC Financial Services Group by 38.4% during the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock valued at $169,891,000 after purchasing an additional 291,769 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in The PNC Financial Services Group by 152.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after buying an additional 276,200 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several research reports. Barclays increased their price objective on 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. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Stephens raised their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $185.71.

Insider Transactions at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the transaction, the chief executive officer now owns 559,669 shares in the company, valued at $97,281,665.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,521 shares of company stock worth $4,631,855. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 2.2 %

PNC opened at $189.88 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $111.08 and a twelve month high of $196.64. The firm has a market cap of $75.55 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.98 and a beta of 1.14. The firm’s 50-day simple moving average is $182.86 and its 200-day simple moving average is $168.53. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.60 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

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.