The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Boosted by Tower Bridge Advisors

Tower Bridge Advisors grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 26.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,586 shares of the financial services provider’s stock after purchasing an additional 2,636 shares during the quarter. Tower Bridge Advisors’ holdings in The PNC Financial Services Group were worth $2,327,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC bought a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $1,193,000. Schear Investment Advisers LLC grew its holdings in The PNC Financial Services Group by 15.5% in the 3rd quarter. Schear Investment Advisers LLC now owns 9,224 shares of the financial services provider’s stock worth $1,705,000 after buying an additional 1,239 shares in the last quarter. Schneider Downs Wealth Management Advisors LP grew its holdings in The PNC Financial Services Group by 7.9% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 4,325 shares of the financial services provider’s stock worth $799,000 after buying an additional 315 shares in the last quarter. Coastline Trust Co bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $104,000. Finally, Gouws Capital LLC bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $203,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group 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 transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was 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 in the company, valued at $97,929,359.45. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock valued at $5,277,493 in the last three months. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $207.68 on Friday. The PNC Financial Services Group, Inc. has a one year low of $127.08 and a one year high of $214.19. The stock has a fifty day moving average of $188.25 and a 200-day moving average of $172.94. The company has a market capitalization of $82.40 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. 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 (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.08%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Barclays increased their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $186.96.

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.