Canada Pension Plan Investment Board Has $140.36 Million Holdings in PNC Financial Services Group, Inc. (The) (PNC)

Canada Pension Plan Investment Board raised its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 67.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,041,462 shares of the financial services provider’s stock after purchasing an additional 420,938 shares during the quarter. Canada Pension Plan Investment Board owned 0.22% of PNC Financial Services Group, Inc. (The) worth $140,358,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of PNC Financial Services Group, Inc. (The) by 1.8% in the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock worth $4,065,151,000 after acquiring an additional 589,235 shares during the period. BlackRock Inc. grew its stake in shares of PNC Financial Services Group, Inc. (The) by 1.3% in the second quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock worth $3,430,820,000 after acquiring an additional 341,222 shares during the period. FMR LLC grew its stake in shares of PNC Financial Services Group, Inc. (The) by 13.9% in the second quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock worth $1,957,539,000 after acquiring an additional 1,915,923 shares during the period. JPMorgan Chase & Co. grew its stake in shares of PNC Financial Services Group, Inc. (The) by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock worth $1,592,394,000 after acquiring an additional 875,164 shares during the period. Finally, Capital World Investors grew its stake in shares of PNC Financial Services Group, Inc. (The) by 6.9% in the second quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock worth $1,262,761,000 after acquiring an additional 654,997 shares during the period. Institutional investors and hedge funds own 80.79% of the company’s stock.

A number of brokerages have recently commented on PNC. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday. Nomura raised their price objective on shares of PNC Financial Services Group, Inc. (The) from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. J P Morgan Chase & Co lifted their price target on shares of PNC Financial Services Group, Inc. (The) from $139.50 to $140.50 and gave the company an “overweight” rating in a report on Wednesday. Citigroup Inc. reaffirmed a “neutral” rating and set a $144.00 price target (up previously from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, October 9th. Finally, Instinet reaffirmed a “neutral” rating and set a $132.00 price target (up previously from $129.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Saturday, September 30th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $133.99.

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PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The company’s revenue was up 7.7% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 36.63%.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the 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 Securities & Exchange Commission, which is available through this link. Also, insider Karen L. Larrimer sold 3,135 shares of the stock in a transaction dated Monday, October 30th. The stock was 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 of the company’s stock, valued at $2,801,104.02. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

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, Inc. (The) (NYSE:PNC)

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