MONECO Advisors LLC Acquires New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

MONECO Advisors LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,507 shares of the financial services provider’s stock, valued at approximately $2,127,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. ORG Partners LLC grew its position in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $26,000. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $29,000. Finally, Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group in the 2nd quarter worth $33,000. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $190.27, for a total value of $236,315.34. Following the transaction, the chief executive officer now owns 544,765 shares in the company, valued at approximately $103,652,436.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the president now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $190.27, for a total transaction of $236,315.34. Following the transaction, the chief executive officer now directly owns 544,765 shares in the company, valued at approximately $103,652,436.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,521 shares of company stock worth $4,631,855. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PNC shares. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. UBS Group upped their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $0.63 during midday trading on Tuesday, reaching $189.20. 30,033 shares of the company’s stock were exchanged, compared to its average volume of 1,851,380. The stock’s 50-day simple moving average is $182.86 and its 200 day simple moving average is $168.53. The firm has a market cap of $75.28 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.98 and a beta of 1.14. 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 PNC Financial Services Group, Inc. has a 52 week low of $111.08 and a 52 week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping 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 company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the company posted $3.60 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

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.