Boston Trust Walden Corp Has $15.61 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Boston Trust Walden Corp reduced its stake in The PNC Financial Services Group by 2.5% during the second quarter, now holding 83,727 shares valued at approximately $15.61 million.
• Institutional investors own 83.53% of The PNC Financial Services Group, with significant recent purchases including Berkshire Hathaway and Goldman Sachs.
• The company announced a quarterly dividend of $1.70 per share, set to be paid on November 5th, representing an annual yield of 3.6%.

Boston Trust Walden Corp trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,727 shares of the financial services provider's stock after selling 2,190 shares during the quarter. Boston Trust Walden Corp's holdings in The PNC Financial Services Group were worth $15,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 0.7% during the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after purchasing an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in The PNC Financial Services Group by 0.5% during the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock valued at $844,967,000 after purchasing an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in The PNC Financial Services Group by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock valued at $713,063,000 after purchasing an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock valued at $495,336,000 after purchasing an additional 830,440 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Oppenheimer reduced their target price on The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating on the stock in a report on Tuesday, September 23rd. Bank of America boosted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. Finally, Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $218.21.

The PNC Financial Services Group Stock Performance

PNC stock opened at $189.71 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50 day moving average price of $198.61 and a 200 day moving average price of $183.77. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market capitalization of $74.71 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter in the previous year, the company posted $3.39 EPS. The PNC Financial Services Group's revenue was up 4.6% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group's payout ratio is 46.51%.

About The PNC Financial Services Group

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.

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