Shepherd Financial Partners LLC Buys 177 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Shepherd Financial Partners LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,232 shares of the financial services provider’s stock after acquiring an additional 177 shares during the quarter. Shepherd Financial Partners LLC’s holdings in The PNC Financial Services Group were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Capital International Investors boosted its position in shares of The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after acquiring an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. lifted its position in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the last quarter. Legal & General Group Plc lifted its position in The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after purchasing an additional 100,993 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position 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 valued at $209,962,000 after purchasing an additional 262,654 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several research reports. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased 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. Royal Bank of Canada increased their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lowered their target price 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. Finally, Compass Point lowered shares of 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 given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Trading Down 0.6 %

NYSE PNC opened at $187.15 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $74.39 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company’s 50-day simple moving average is $183.94 and its two-hundred day simple moving average is $169.34. The PNC Financial Services Group, Inc. has a one year low of $114.51 and a one year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.60 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $171.80, for a total value of $213,375.60. Following the transaction, the chief executive officer now owns 557,185 shares of the company’s stock, valued at $95,724,383. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $171.80, for a total value of $213,375.60. Following the completion of the sale, the chief executive officer now directly owns 557,185 shares in the company, valued at $95,724,383. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,279 shares of company stock valued at $2,418,591 in the last 90 days. Insiders own 0.42% of the company’s stock.

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.