Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 82.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,967 shares of the financial services provider’s stock after purchasing an additional 2,241 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in PNC Financial Services Group were worth $676,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new position in PNC Financial Services Group in the 3rd quarter valued at $127,000. Moneta Group Investment Advisors LLC acquired a new position in PNC Financial Services Group in the 2nd quarter valued at $143,000. Landaas & Co. WI ADV acquired a new position in PNC Financial Services Group in the 2nd quarter valued at $147,000. Archford Capital Strategies LLC raised its holdings in PNC Financial Services Group by 197.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 723 shares during the last quarter. Finally, Kaizen Advisory LLC raised its holdings in PNC Financial Services Group by 147.8% in the 2nd quarter. Kaizen Advisory LLC now owns 1,150 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 79.09% of the company’s stock.

Shares of NYSE PNC opened at $133.08 on Wednesday. PNC Financial Services Group Inc has a 52-week low of $116.55 and a 52-week high of $163.59. The firm has a market cap of $62.43 billion, a PE ratio of 15.66, a P/E/G ratio of 1.33 and a beta of 0.92. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.90 and a quick ratio of 0.89.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the previous year, the company earned $2.16 EPS. As a group, sell-side analysts expect that PNC Financial Services Group Inc will post 10.76 EPS for the current fiscal year.

PNC Financial Services Group announced that its Board of Directors has authorized a share repurchase program on Thursday, November 8th that allows the company to buyback $900.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Wednesday, October 17th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, October 16th. This represents a $3.80 annualized dividend and a dividend yield of 2.86%. PNC Financial Services Group’s dividend payout ratio is presently 44.71%.

In other news, EVP Robert Q. Reilly sold 24,710 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the completion of the sale, the executive vice president now directly owns 131,020 shares of the company’s stock, valued at approximately $18,406,999.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.

PNC has been the subject of several analyst reports. Deutsche Bank upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating in a report on Monday, October 15th. Vining Sparks reiterated a “buy” rating and issued a $160.00 price target on shares of PNC Financial Services Group in a report on Tuesday, October 9th. Morgan Stanley cut their price target on PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating for the company in a report on Monday, October 15th. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, UBS Group set a $137.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a report on Monday, October 15th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $155.50.

TRADEMARK VIOLATION NOTICE: This piece was first reported by Daily Political and is the property of of Daily Political. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://www.dailypolitical.com/2018/11/21/migdal-insurance-financial-holdings-ltd-raises-position-in-pnc-financial-services-group-inc-pnc.html.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Recommended Story: Understanding Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

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

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