1,286 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Financial Council LLC

Financial Council LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,286 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Meridian Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the third quarter worth about $1,071,000. GM Advisory Group LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $232,000. Raymond James Trust N.A. grew its position in shares of The PNC Financial Services Group by 1.3% in the third quarter. Raymond James Trust N.A. now owns 40,694 shares of the financial services provider’s stock valued at $7,522,000 after purchasing an additional 530 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of The PNC Financial Services Group by 0.6% in the third quarter. Eagle Asset Management Inc. now owns 1,044,283 shares of the financial services provider’s stock valued at $213,003,000 after purchasing an additional 5,780 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in The PNC Financial Services Group by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock worth $451,052,000 after buying an additional 6,438 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of recent research reports. 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 note on Wednesday, September 11th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $210.07 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.15 and a fifty-two week high of $214.19. The company has a market cap of $83.35 billion, a P/E ratio of 17.76, a PEG ratio of 2.15 and a beta of 1.13. The firm’s 50 day moving average price is $191.01 and its 200 day moving average price is $174.58.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm earned $3.60 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the sale, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at $111,604,141.88. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,546 shares of company stock worth $5,317,200. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company 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.