The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.0% in the third quarter, Holdings Channel reports. The institutional investor owned 15,758 shares of the financial services provider’s stock after purchasing an additional 1,299 shares during the period. Bleakley Financial Group LLC’s holdings in The PNC Financial Services Group were worth $2,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BSN CAPITAL PARTNERS Ltd acquired a new position in The PNC Financial Services Group in the third quarter valued at approximately $12,548,000. Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $822,000. Equity Investment Corp grew its position in shares of The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after buying an additional 22,188 shares during the last quarter. Duality Advisers LP grew its position in shares of The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after buying an additional 10,743 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth $18,159,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $189.38 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The stock has a 50 day simple moving average of $180.83 and a 200-day simple moving average of $167.13. The company has a market cap of $75.28 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.60 earnings per share. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.60%.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday. 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. Stephens raised their price objective 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. Finally, Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’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 transaction of $211,276.62. Following the sale, the chief executive officer now owns 558,427 shares of the company’s stock, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the transaction, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction 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 sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,420 shares of company stock worth $4,223,131. 0.42% of the stock is owned by company insiders.

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.