The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,285 shares of the financial services provider’s stock after buying an additional 322 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $792,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after purchasing an additional 532,871 shares during the period. Jennison Associates LLC lifted its holdings 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 valued at $169,891,000 after buying an additional 291,769 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of The PNC Financial Services Group by 152.2% in the second 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 buying an additional 276,200 shares during the period. Hsbc Holdings PLC grew its holdings in The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after acquiring an additional 262,654 shares during the period. Finally, Marshall Wace LLP grew its holdings in The PNC Financial Services Group by 5,419.9% during the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after acquiring an additional 254,356 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the sale, the chief executive officer now owns 558,427 shares of the company’s stock, valued at approximately $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 can be accessed through this link. In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the sale, the chief executive officer now directly owns 558,427 shares in the company, valued at approximately $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on 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 transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,662 shares of company stock worth $4,459,819 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 1.0 %

NYSE:PNC opened at $188.21 on Thursday. The stock has a market cap of $74.81 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $196.64. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.82. The stock’s 50-day moving average is $181.96 and its two-hundred day moving average is $167.82.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.60 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company 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 dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.40%. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PNC shares. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group cut their price objective 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. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $185.71.

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.