106,100 Shares in The PNC Financial Services Group, Inc $PNC Bought by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 106,100 shares of the financial services provider’s stock, valued at approximately $23,582,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $7,921,455,000. Bank of America Corp DE bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $2,102,631,000. Deutsche Bank AG bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $1,054,189,000. Jupiter Topco LLC bought a new stake in The PNC Financial Services Group during the 2nd quarter valued at $756,877,000. Finally, Legal & General Group Plc acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $669,168,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group lowered their price target on The PNC Financial Services Group from $286.00 to $278.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Tuesday, October 13th. HSBC increased their target price on shares of The PNC Financial Services Group from $275.00 to $283.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Morgan Stanley reduced their price target on The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Finally, Citigroup reduced their price objective on shares of The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $266.04.

The PNC Financial Services Group Price Performance

PNC opened at $229.50 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $91.56 billion, a P/E ratio of 12.10, a PEG ratio of 1.20 and a beta of 0.92. The stock has a 50-day moving average price of $229.52 and a 200-day moving average price of $229.06. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The company had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The PNC Financial Services Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $4.35 EPS. Equities analysts predict that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.58%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.