Northwestern Mutual Wealth Management Co. Acquires 3,240 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Northwestern Mutual Wealth Management Co. grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.0% during the second quarter, Holdings Channel reports. The firm owned 39,397 shares of the financial services provider’s stock after purchasing an additional 3,240 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in The PNC Financial Services Group were worth $6,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PNC. Capital Research Global Investors raised its holdings in shares of The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of 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 in the last quarter. Hsbc Holdings PLC raised its holdings in shares of The PNC Financial Services Group by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada raised their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $177.65.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the sale, the chief executive officer now owns 549,733 shares of the company’s stock, valued at $101,007,941.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the transaction, the chief executive officer now directly owns 549,733 shares in the company, valued at $101,007,941.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders have sold a total of 26,465 shares of company stock valued at $4,681,565 over the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $179.40 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The company’s fifty day moving average is $178.14 and its two-hundred day moving average is $164.75. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $187.78. The firm has a market capitalization of $71.31 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.36 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

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.