Payden & Rygel Buys Shares of 71,600 PNC Financial Services Group Inc (PNC)

Payden & Rygel acquired a new stake in PNC Financial Services Group Inc (NYSE:PNC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 71,600 shares of the financial services provider’s stock, valued at approximately $9,650,000.

A number of other large investors have also recently modified their holdings of the stock. Castine Capital Management LLC raised its position in shares of PNC Financial Services Group by 13.8% during the 3rd quarter. Castine Capital Management LLC now owns 69,341 shares of the financial services provider’s stock worth $9,346,000 after buying an additional 8,383 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of PNC Financial Services Group by 3.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 799,553 shares of the financial services provider’s stock worth $107,734,000 after purchasing an additional 26,504 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of PNC Financial Services Group by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 87,013 shares of the financial services provider’s stock worth $11,727,000 after purchasing an additional 4,220 shares during the last quarter. Synovus Financial Corp grew its stake in shares of PNC Financial Services Group by 10.5% in the 3rd quarter. Synovus Financial Corp now owns 9,466 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 901 shares during the last quarter. Finally, Signature Financial Management Inc. grew its stake in shares of PNC Financial Services Group by 24.7% in the 3rd quarter. Signature Financial Management Inc. now owns 3,870 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 81.48% of the company’s stock.

PNC has been the topic of several analyst reports. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Tuesday, September 5th. Deutsche Bank reissued a “hold” rating and issued a $136.00 target price (up from $130.00) on shares of PNC Financial Services Group in a research report on Tuesday, September 26th. Nomura boosted their price objective on shares of PNC Financial Services Group from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, September 28th. Instinet reaffirmed a “neutral” rating and set a $132.00 price objective (up from $129.00) on shares of PNC Financial Services Group in a research report on Saturday, September 30th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $135.00 price objective on shares of PNC Financial Services Group in a research report on Sunday, October 1st. Sixteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $138.98.

PNC Financial Services Group Inc (NYSE:PNC) traded down $1.38 on Friday, hitting $144.29. 1,125,469 shares of the stock traded hands, compared to its average volume of 1,682,923. The company has a market cap of $69,309.95, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a fifty-two week low of $113.66 and a fifty-two week high of $147.28.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion for 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 firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. sell-side analysts predict that PNC Financial Services Group Inc will post 8.44 EPS for the current fiscal year.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Karen L. Larrimer sold 3,135 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the transaction, the insider now owns 20,449 shares in the company, valued at $2,801,104.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,523 shares of company stock worth $15,392,168. 0.43% of the stock is owned by corporate insiders.

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PNC Financial Services Group Profile

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)

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