Axa S.A. Purchases 3,865 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Axa S.A. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 46.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,125 shares of the financial services provider’s stock after acquiring an additional 3,865 shares during the period. Axa S.A.’s holdings in The PNC Financial Services Group were worth $1,885,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its holdings in shares of The PNC Financial Services Group by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock worth $462,000 after buying an additional 107 shares in the last quarter. Gryphon Financial Partners LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $228,000. Steward Partners Investment Advisory LLC increased its stake in The PNC Financial Services Group by 9.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,364 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 645 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of The PNC Financial Services Group by 31.6% during the fourth quarter. Bank of Nova Scotia now owns 51,763 shares of the financial services provider’s stock valued at $8,015,000 after purchasing an additional 12,437 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of The PNC Financial Services Group by 1.2% during the 4th quarter. Jones Financial Companies Lllp now owns 9,291 shares of the financial services provider’s stock worth $1,439,000 after purchasing an additional 114 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $184.84 on Tuesday. The business’s fifty day simple moving average is $178.08 and its 200 day simple moving average is $164.43. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $187.78. The firm has a market capitalization of $73.47 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.36 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The disclosure for this sale can be found here. Insiders have sold a total of 26,465 shares of company stock worth $4,681,565 over the last three months. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNC shares. Jefferies Financial Group upped their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Evercore ISI upped their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $176.90.

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.