Waldron Private Wealth LLC Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Waldron Private Wealth LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,850 shares of the financial services provider’s stock after purchasing an additional 247 shares during the period. Waldron Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PNC. Jennison Associates LLC increased its position in shares of The PNC Financial Services Group by 38.4% in the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after acquiring an additional 291,769 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after acquiring an additional 276,200 shares during the last quarter. Hsbc Holdings PLC boosted its stake in The PNC Financial Services Group by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after acquiring an additional 262,654 shares during the last quarter. Marshall Wace LLP boosted its stake in The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after acquiring an additional 254,356 shares during the last quarter. Finally, Eastern Bank boosted its stake in The PNC Financial Services Group by 1,884.1% during the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock valued at $45,993,000 after acquiring an additional 236,272 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $186.28 on Wednesday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $196.64. The firm has a market capitalization of $74.05 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a fifty day moving average of $181.56 and a 200-day moving average of $167.68.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.60 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley increased their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group raised their price objective 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. Two research 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.71.

Insider Activity at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction on 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 sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the sale, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,662 shares of company stock valued at $4,459,819. 0.42% of the stock is owned by corporate insiders.

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.