Thrive Wealth Management LLC Buys 480 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Thrive Wealth Management LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,416 shares of the financial services provider’s stock after acquiring an additional 480 shares during the quarter. Thrive Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,001,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. ORG Partners LLC raised its position in 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 valued at $26,000 after purchasing an additional 110 shares during the last quarter. Bank & Trust Co bought a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Fortis Group Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Royal Bank of Canada lifted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Barclays upped their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. The Goldman Sachs Group dropped their price target 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, Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two 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, the stock has a consensus rating of “Hold” and a consensus target price of $177.65.

The PNC Financial Services Group Stock Up 2.2 %

Shares of The PNC Financial Services Group stock traded up $3.87 during trading hours on Friday, reaching $182.26. The company’s stock had a trading volume of 1,098,315 shares, compared to its average volume of 1,864,656. The company has a market capitalization of $72.45 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.14. The stock’s fifty day simple moving average is $178.13 and its two-hundred day simple moving average is $165.08. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.36 EPS. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the sale, the chief executive officer now owns 563,395 shares in the company, valued at $94,368,662.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $167.50, for a total value of $208,035.00. Following the transaction, the chief executive officer now owns 563,395 shares in the company, valued at $94,368,662.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,824 shares of company stock valued at $4,580,223. 0.42% of the stock is owned by insiders.

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.