Allworth Financial LP Has $2.62 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Allworth Financial LP boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 41.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,183 shares of the financial services provider’s stock after acquiring an additional 4,162 shares during the quarter. Allworth Financial LP’s holdings in The PNC Financial Services Group were worth $2,622,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PNC. International Assets Investment Management LLC boosted its stake in shares of The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after purchasing an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after buying an additional 433,178 shares in the last quarter. Jennison Associates LLC boosted its position in The PNC Financial Services Group by 38.4% in the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock valued at $169,891,000 after buying an additional 291,769 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in The PNC Financial Services Group by 152.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after buying an additional 276,200 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PNC shares. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Jefferies Financial Group raised their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Evercore ISI upped their target price on shares of 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. Finally, Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $185.71.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares in the company, valued at $170,299.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the 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 approximately $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,279 shares of company stock valued at $4,395,540. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $185.82 on Monday. The stock has a market cap of $73.94 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 1 year low of $110.79 and a 1 year high of $196.64. The stock’s 50-day moving average price is $182.56 and its two-hundred day moving average price is $168.28. 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 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 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm earned $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed 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 dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

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.