Caisse DE Depot ET Placement DU Quebec Has $108.22 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Caisse DE Depot ET Placement DU Quebec lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 88.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 585,431 shares of the financial services provider’s stock after purchasing an additional 274,186 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.15% of The PNC Financial Services Group worth $108,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $26,000. ORG Partners LLC boosted its holdings in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC purchased a new position in The PNC Financial Services Group during the 1st quarter worth $28,000. Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $33,000. Finally, Valley Wealth Managers Inc. raised its holdings in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $214.72 on Friday. The firm’s 50 day moving average is $194.07 and its 200 day moving average is $176.68. The stock has a market capitalization of $85.20 billion, a P/E ratio of 18.15, a PEG ratio of 2.25 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $132.11 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.60 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley raised their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $189.15.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the transaction, the chief executive officer now directly owns 535,007 shares of the company’s stock, valued at $110,200,741.86. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,546 shares of company stock worth $5,345,530. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.