Valeo Financial Advisors LLC Has $1.21 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Valeo Financial Advisors LLC grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,563 shares of the financial services provider’s stock after purchasing an additional 561 shares during the quarter. Valeo Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BSN CAPITAL PARTNERS Ltd acquired a new stake in The PNC Financial Services Group in the third quarter valued at $12,548,000. Integrated Advisors Network LLC increased its stake in shares of 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 valued at $338,000 after buying an additional 148 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $822,000. Equity Investment Corp raised its position in shares of The PNC Financial Services Group by 3.4% during the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after acquiring an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP lifted its stake in shares of The PNC Financial Services Group by 108.5% in the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after acquiring an additional 10,743 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

PNC stock opened at $187.77 on Monday. The company has a market capitalization of $74.71 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $189.17. The business has a 50-day simple moving average of $178.68 and a two-hundred day simple moving average of $166.20. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company posted $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. Research analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the sale, the chief executive officer now owns 548,491 shares in the company, valued at approximately $99,468,842.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $181.35, for a total transaction of $225,236.70. Following the completion of the sale, the chief executive officer now directly owns 548,491 shares in the company, valued at approximately $99,468,842.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,420 shares of company stock worth $4,212,785. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on PNC shares. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays boosted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Morgan Stanley increased their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Finally, UBS Group boosted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $177.65.

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.