7,656 The PNC Financial Services Group, Inc $PNC Shares Bought by Machina Capital S.A.S.

Machina Capital S.A.S. lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 203.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,416 shares of the financial services provider’s stock after acquiring an additional 7,656 shares during the quarter. Machina Capital S.A.S.’s holdings in The PNC Financial Services Group were worth $2,537,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $7,921,455,000. State Street Corp increased its position in shares of The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock worth $4,538,929,000 after purchasing an additional 765,097 shares in the last quarter. Bank of America Corp DE purchased a new stake in The PNC Financial Services Group in the second quarter valued at about $2,102,631,000. Deutsche Bank AG purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The PNC Financial Services Group by 1.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock worth $888,309,000 after buying an additional 39,112 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $232.26 on Thursday. The PNC Financial Services Group, Inc has a 52 week low of $177.08 and a 52 week high of $258.96. The business’s 50 day moving average price is $228.09 and its 200 day moving average price is $229.34. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.28. The firm has a market cap of $92.15 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.20 and a beta of 0.92.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th were paid a $2.00 dividend. The ex-dividend date was Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

Wall Street Analyst Weigh In

PNC has been the subject of several research reports. Robert W. Baird lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. DA Davidson upped their target price on The PNC Financial Services Group from $247.00 to $281.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Raymond James Financial cut their target price on The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Stephens lowered their price target on The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.04.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.