Farther Finance Advisors LLC Raises Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Farther Finance Advisors LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 148.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,225 shares of the financial services provider’s stock after purchasing an additional 3,715 shares during the period. Farther Finance Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,151,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PNC. International Assets Investment Management LLC lifted its stake 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 valued at $99,262,000 after buying an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. raised its position in The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after purchasing an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in The PNC Financial Services Group by 152.2% in 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 purchasing 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 worth $209,962,000 after purchasing an additional 262,654 shares during the period. Finally, Marshall Wace LLP grew its position 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 worth $40,277,000 after purchasing an additional 254,356 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 558,427 shares in the company, valued at $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the company’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 sale, the chief executive officer now owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,279 shares of company stock worth $2,418,591. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Citigroup upped their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” 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 issued a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $187.15 on Monday. The firm has a market capitalization of $74.39 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $183.94 and its 200-day simple moving average is $169.65. The PNC Financial Services Group, Inc. has a 12 month low of $114.51 and a 12 month 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, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.42%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

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.