Capital Market Strategies LLC Acquires New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital Market Strategies LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,219 shares of the financial services provider’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PNC. Grayhawk Investment Strategies Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $1,200,000. Envestnet Asset Management Inc. grew its holdings in The PNC Financial Services Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after purchasing an additional 6,657 shares during the period. Groupama Asset Managment acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $23,578,000. Integrated Advisors Network LLC grew its holdings in The PNC Financial Services Group by 7.3% in the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 148 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new stake in The PNC Financial Services Group in the second quarter worth $822,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the sale, the chief executive officer now directly owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the transaction, the chief executive officer now owns 549,733 shares in the company, valued at approximately $101,007,941.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 2,404 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,824 shares of company stock valued at $4,580,223. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada raised their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. UBS Group raised their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.65.

The PNC Financial Services Group Price Performance

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

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 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 for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $3.36 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

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.