Advisor Resource Council Purchases New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Advisor Resource Council purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,692 shares of the financial services provider’s stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bank & Trust Co bought a new position in The PNC Financial Services Group during the 2nd quarter worth $26,000. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at about $28,000. Y.D. More Investments Ltd bought a new stake in The PNC Financial Services Group during the second quarter worth about $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth about $38,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 8.6 %

NYSE PNC opened at $204.97 on Thursday. The PNC Financial Services Group, Inc. has a 12 month low of $118.56 and a 12 month high of $205.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $81.33 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. The business’s 50-day moving average price is $184.75 and its two-hundred day moving average price is $170.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business earned $3.60 EPS. The company’s revenue 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 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.12%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the firm’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 sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the completion of the sale, the chief executive officer now directly owns 557,185 shares in the company, valued at $95,724,383. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of the company’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 value of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,521 shares of company stock valued at $2,653,950. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

The PNC Financial Services Group 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.