Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 117,974 shares of the financial services provider’s stock, valued at approximately $15,899,000. PNC Financial Services Group comprises 2.4% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of PNC Financial Services Group by 1.8% during the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock valued at $4,065,151,000 after acquiring an additional 589,235 shares during the last quarter. BlackRock Inc. increased its position in shares of PNC Financial Services Group by 1.3% during 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 acquiring an additional 341,222 shares during the last quarter. FMR LLC increased its position in shares of PNC Financial Services Group by 13.9% during 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 acquiring an additional 1,915,923 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of PNC Financial Services Group by 7.4% during 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 acquiring an additional 875,164 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of PNC Financial Services Group 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 in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.

In other news, insider Karen L. Larrimer sold 3,135 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the completion of the sale, the insider now owns 20,449 shares in the company, valued at approximately $2,801,104.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Orlando C. Esposito sold 4,505 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was 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 have sold a total of 37,640 shares of company stock valued at $5,196,952 in the last 90 days. Insiders own 0.43% of the company’s stock.

A number of research analysts recently weighed in on PNC shares. Robert W. Baird restated a “buy” rating and issued a $135.00 price objective on shares of PNC Financial Services Group in a report on Monday, August 28th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Tuesday, September 5th. Piper Jaffray Companies restated a “buy” rating and issued a $134.00 price objective on shares of PNC Financial Services Group in a report on Sunday, August 27th. Nomura lifted their price objective on shares of PNC Financial Services Group from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Finally, Wells Fargo & Company set a $135.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Thursday, October 19th. Sixteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $135.93.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded up $0.44 during trading hours on Monday, hitting $141.00. 2,576,100 shares of the stock traded hands, compared to its average volume of 2,203,457. The stock has a market cap of $67,087.95, a P/E ratio of 17.22, a PEG ratio of 1.88 and a beta of 0.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group, Inc. has a twelve month low of $110.68 and a twelve month high of $143.16.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. equities research analysts expect that PNC Financial Services Group, Inc. will post 8.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th were given a dividend of $0.75 per share. The ex-dividend date was Monday, October 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.13%. PNC Financial Services Group’s dividend payout ratio is presently 36.63%.

COPYRIGHT VIOLATION NOTICE: This story was first reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/12/04/sompo-japan-nipponkoa-asset-management-co-ltd-acquires-shares-of-117974-pnc-financial-services-group-inc-the-pnc.html.

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.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.