Cetera Investment Advisers Has $18.24 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cetera Investment Advisers increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,328 shares of the financial services provider’s stock after purchasing an additional 4,745 shares during the period. Cetera Investment Advisers’ holdings in The PNC Financial Services Group were worth $18,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC raised its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd 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 period. Bank & Trust Co acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at approximately $26,000. LRI Investments LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $29,000. Finally, Fortis Group Advisors LLC grew its stake in shares of The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $178.39 on Friday. The firm has a market capitalization of $70.91 billion, a PE ratio of 14.98, a PEG ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The company’s 50-day moving average is $178.11 and its 200-day moving average is $164.85. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the business posted $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Evercore ISI upped their target price on The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group decreased their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.65.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the transaction, the chief executive officer now owns 563,395 shares in the company, valued at approximately $94,368,662.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’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 transaction of $208,035.00. Following the transaction, the chief executive officer now directly owns 563,395 shares in the company, valued at $94,368,662.50. The disclosure for this sale can be found here. Insiders sold 25,824 shares of company stock worth $4,580,223 in the last ninety days. 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.