The PNC Financial Services Group, Inc $PNC Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 78.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,016 shares of the financial services provider’s stock after buying an additional 24,645 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in The PNC Financial Services Group were worth $11,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $1,477,836,000. Viking Global Investors LP acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $442,871,000. AQR Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 134.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock worth $622,450,000 after purchasing an additional 1,917,530 shares in the last quarter. Federated Hermes Inc. raised its position in shares of The PNC Financial Services Group by 43.8% during the 2nd quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock worth $517,598,000 after purchasing an additional 845,148 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in The PNC Financial Services Group by 491.7% in the 2nd quarter. Marshall Wace LLP now owns 1,005,926 shares of the financial services provider’s stock valued at $187,525,000 after buying an additional 835,926 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $217.52 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $85.30 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $220.54. The company has a 50 day moving average price of $199.45 and a 200 day moving average price of $196.18.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.49 EPS. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is 43.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oppenheimer dropped their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Citigroup upped their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.06.

Insider Activity

In other news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.