Commonwealth Equity Services LLC Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Commonwealth Equity Services LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,657 shares of the financial services provider’s stock after purchasing an additional 3,621 shares during the period. Commonwealth Equity Services LLC’s holdings in The PNC Financial Services Group were worth $35,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in The PNC Financial Services Group by 1.8% in the 1st quarter. Park Avenue Securities LLC now owns 11,147 shares of the financial services provider’s stock worth $1,801,000 after acquiring an additional 196 shares during the last quarter. Congress Asset Management Co. MA purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $207,000. Ballentine Partners LLC raised its position in shares of The PNC Financial Services Group by 22.9% in the first quarter. Ballentine Partners LLC now owns 5,964 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 1,110 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of The PNC Financial Services Group by 17.2% during the 1st quarter. AdvisorNet Financial Inc now owns 6,713 shares of the financial services provider’s stock valued at $1,085,000 after buying an additional 983 shares in the last quarter. Finally, Southland Equity Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $200,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

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 value of $211,276.62. Following the sale, the chief executive officer now directly 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 document filed with the SEC, which is available through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,420 shares of company stock valued at $4,223,131. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.3 %

Shares of NYSE:PNC opened at $189.38 on Monday. The firm has a market capitalization of $75.36 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.06 and a beta of 1.14. 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 stock has a 50 day moving average price of $180.83 and a 200-day moving average price of $167.27. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $196.64.

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 the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays boosted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Stephens increased 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 report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Two investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Company 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.