Toronto Dominion Bank Boosts Stake in PNC Financial Services Group Inc (PNC)

Toronto Dominion Bank grew its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 209,533 shares of the financial services provider’s stock after purchasing an additional 23,183 shares during the period. Toronto Dominion Bank’s holdings in PNC Financial Services Group were worth $30,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of PNC Financial Services Group by 217.5% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock valued at $24,901,000 after purchasing an additional 126,480 shares during the period. California Public Employees Retirement System raised its position in shares of PNC Financial Services Group by 1.6% in the third quarter. California Public Employees Retirement System now owns 1,407,491 shares of the financial services provider’s stock valued at $189,688,000 after purchasing an additional 22,434 shares during the period. Stifel Financial Corp increased its holdings in PNC Financial Services Group by 52.8% during the 3rd quarter. Stifel Financial Corp now owns 385,627 shares of the financial services provider’s stock worth $51,963,000 after acquiring an additional 133,232 shares during the period. AXA increased its holdings in PNC Financial Services Group by 2.1% during the 3rd quarter. AXA now owns 337,039 shares of the financial services provider’s stock worth $45,423,000 after acquiring an additional 6,903 shares during the period. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in PNC Financial Services Group during the 3rd quarter worth approximately $549,000. 81.98% of the stock is currently owned by institutional investors.

In other news, insider Robert Q. Reilly sold 19,576 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $145.51, for a total value of $2,848,503.76. Following the completion of the sale, the insider now owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the sale, the insider now directly owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The disclosure for this sale can be found here. In the last three months, insiders sold 103,894 shares of company stock valued at $14,897,513. Corporate insiders own 0.43% of the company’s stock.

PNC has been the topic of a number of analyst reports. Wells Fargo & Co set a $135.00 target price on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Thursday, October 19th. Nomura upped their target price on shares of PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Monday, October 30th. JPMorgan Chase & Co. upped their target price on shares of PNC Financial Services Group from $139.50 to $140.50 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $151.00 target price on shares of PNC Financial Services Group in a report on Monday, December 4th. Eighteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $145.98.

PNC Financial Services Group Inc (PNC) opened at $158.27 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a 12 month low of $115.25 and a 12 month high of $160.07. The company has a market cap of $72,506.16, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the company earned $1.97 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. sell-side analysts expect that PNC Financial Services Group Inc will post 10.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, January 16th. This represents a $3.00 dividend on an annualized basis and a yield of 1.90%. PNC Financial Services Group’s dividend payout ratio is presently 28.85%.

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About PNC Financial Services Group

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 (NYSE:PNC)

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