1,862 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,862 shares of the financial services provider’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Valley Brook Capital Group Inc. raised its stake in shares of The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 62 shares during the last quarter. Kowal Investment Group LLC grew its holdings in The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 68 shares during the period. Ranch Capital Advisors Inc. grew its holdings in The PNC Financial Services Group by 1.0% during the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after purchasing an additional 69 shares during the period. Triangle Securities Wealth Management raised its holdings in The PNC Financial Services Group by 1.8% in the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares during the period. Finally, Cooper Financial Group boosted its position in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNC. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, 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 report on Wednesday, September 11th. 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 stock. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $176.90.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $179.95 on Wednesday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week 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 firm’s 50-day simple moving average is $178.10 and its 200 day simple moving average is $164.65. The firm has a market cap of $71.60 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $3.36 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the sale, the chief executive officer now owns 549,733 shares of the company’s stock, valued at $101,007,941.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on 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 transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the transaction, the chief executive officer now directly owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,465 shares of company stock valued at $4,681,565. 0.42% of the stock is owned by corporate insiders.

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.