Buckingham Asset Management LLC acquired a new position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,518 shares of the financial services provider’s stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in PNC Financial Services Group, Inc. (The) by 1.8% during the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock worth $4,065,151,000 after buying an additional 589,235 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PNC Financial Services Group, Inc. (The) by 1.3% in the second quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock valued at $3,430,820,000 after purchasing an additional 341,222 shares during the last quarter. FMR LLC raised its holdings in shares of PNC Financial Services Group, Inc. (The) by 13.9% in the second quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock valued at $1,957,539,000 after purchasing an additional 1,915,923 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PNC Financial Services Group, Inc. (The) by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after purchasing an additional 875,164 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of PNC Financial Services Group, Inc. (The) by 6.9% in the second quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock valued at $1,262,761,000 after purchasing an additional 654,997 shares during the last quarter. Hedge funds and other institutional investors own 81.19% of the company’s stock.

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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a report on Friday, July 28th. Nomura increased their target price on shares of PNC Financial Services Group, Inc. (The) from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird reiterated a “buy” rating and issued a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $139.50 price target (up previously from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, October 6th. Sixteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $135.93.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded up $0.36 on Friday, reaching $132.85. 1,066,390 shares of the company were exchanged, compared to its average volume of 2,222,646. The stock has a market capitalization of $63,460.00, a P/E ratio of 16.12, a P/E/G ratio of 1.76 and a beta of 0.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92. PNC Financial Services Group, Inc. has a 1-year low of $109.16 and a 1-year high of $139.23.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.61% and a return on equity of 9.29%. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. research analysts anticipate that PNC Financial Services Group, Inc. will post 8.43 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.54%.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total value of $675,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Orlando C. Esposito sold 4,505 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $138.85, for a total transaction of $625,519.25. The disclosure for this sale can be found here. Insiders sold 12,640 shares of company stock worth $1,729,952 over the last ninety days. 0.43% of the stock is currently owned by insiders.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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