The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 152.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 457,700 shares of the financial services provider’s stock after purchasing an additional 276,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in The PNC Financial Services Group were worth $71,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Finally, Core Wealth Advisors Inc. purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.3 %

Shares of PNC stock opened at $179.40 on Thursday. The business’s fifty day moving average price is $178.14 and its 200 day moving average price is $164.75. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $187.78. The firm has a market capitalization of $71.31 billion, a PE ratio of 15.06, a P/E/G ratio of 2.01 and a beta of 1.14. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.36 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 27th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 27th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,465 shares of company stock valued at $4,681,565. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PNC shares. Evercore ISI boosted their price objective on The PNC Financial Services Group from $203.00 to $212.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $185.00 to $200.00 in a report on Thursday, August 15th. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Barclays lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $177.65.

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.