Valley Wealth Managers Inc. Purchases 200 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Valley Wealth Managers Inc. boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 20,000.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201 shares of the financial services provider’s stock after acquiring an additional 200 shares during the quarter. Valley Wealth Managers Inc.’s holdings in The PNC Financial Services Group were worth $37,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PNC. ORG Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 203.7% during the second 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 in the last quarter. Bank & Trust Co bought a new position in The PNC Financial Services Group during the 2nd quarter valued at about $26,000. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at about $28,000. Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the second quarter worth approximately $33,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $38,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the business’s 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. The trade was a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the transaction, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock valued at $5,277,493 in the last 90 days. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PNC shares. 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. Morgan Stanley raised their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Barclays upped their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America raised 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 research report on Thursday, August 15th. Finally, The Goldman Sachs Group reduced their price target on shares of 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. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.96.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $207.68 on Friday. The company has a market capitalization of $82.40 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.21 and a beta of 1.13. 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 stock’s 50-day simple moving average is $188.25 and its 200-day simple moving average is $172.80. The PNC Financial Services Group, Inc. has a 52 week low of $127.08 and a 52 week high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 13.46 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio 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.