Moloney Securities Asset Management LLC grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,547 shares of the financial services provider’s stock after acquiring an additional 570 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in The PNC Financial Services Group were worth $1,950,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Bank & Trust Co bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth $28,000. Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the second quarter worth $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in The PNC Financial Services Group during the second quarter worth $38,000. Institutional investors and hedge funds own 83.53% of the company’s stock.
Insider Activity
In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the transaction, the chief executive officer now owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the business’s 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 transaction, the director now owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,521 shares of company stock worth $2,653,950. Insiders own 0.42% of the company’s stock.
The PNC Financial Services Group Trading Down 0.6 %
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.60 EPS. On average, 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 Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders 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 dividend yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.
Analysts Set New Price Targets
Several equities research analysts have commented on PNC shares. Stephens boosted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on 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. Morgan Stanley raised their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Finally, Citigroup boosted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $185.71.
View Our Latest Analysis on The PNC Financial Services Group
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.
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