Cubist Systematic Strategies LLC lifted its position in PNC Financial Services Group Inc (NYSE:PNC) by 470.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,783 shares of the financial services provider’s stock after buying an additional 18,792 shares during the period. Cubist Systematic Strategies LLC’s holdings in PNC Financial Services Group were worth $3,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation boosted its stake in shares of PNC Financial Services Group by 3,170.0% in the 3rd quarter. Zions Bancorporation now owns 1,308 shares of the financial services provider’s stock worth $176,000 after buying an additional 1,268 shares during the last quarter. Capital Guardian Trust Co. bought a new position in PNC Financial Services Group in the 3rd quarter worth $154,000. First Allied Advisory Services Inc. raised its holdings in PNC Financial Services Group by 31.1% in the 3rd quarter. First Allied Advisory Services Inc. now owns 10,308 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 2,446 shares during the period. Payden & Rygel bought a new position in PNC Financial Services Group in the 3rd quarter worth $9,650,000. Finally, Castine Capital Management LLC raised its holdings in PNC Financial Services Group by 13.8% in the 3rd quarter. Castine Capital Management LLC now owns 69,341 shares of the financial services provider’s stock worth $9,346,000 after purchasing an additional 8,383 shares during the period. Hedge funds and other institutional investors own 81.57% of the company’s stock.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider E William Parsley III sold 46,307 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $143.43, for a total value of $6,641,813.01. Following the sale, the insider now directly owns 132,544 shares in the company, valued at $19,010,785.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,947 shares of company stock worth $12,543,665. Insiders own 0.43% of the company’s stock.

PNC Financial Services Group Inc (NYSE PNC) traded up $2.56 during trading hours on Wednesday, reaching $145.85. The company’s stock had a trading volume of 2,145,100 shares, compared to its average volume of 2,191,382. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $68,177.53, a PE ratio of 17.50, a PEG ratio of 1.91 and a beta of 0.90. PNC Financial Services Group Inc has a twelve month low of $112.61 and a twelve month high of $146.24.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.09 billion. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. research analysts forecast that PNC Financial Services Group Inc will post 8.44 EPS for the current year.

A number of equities analysts recently commented on the company. Nomura raised their target price on PNC Financial Services Group from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 target price on shares of PNC Financial Services Group in a report on Sunday, October 1st. Piper Jaffray Companies raised their target price on PNC Financial Services Group from $134.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Royal Bank of Canada reaffirmed a “buy” rating on shares of PNC Financial Services Group in a report on Monday, October 16th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $139.50 target price (up from $138.50) on shares of PNC Financial Services Group in a report on Friday, October 6th. Sixteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $136.13.

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PNC Financial Services Group Company 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.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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