Arkadios Wealth Advisors Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Arkadios Wealth Advisors raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 194.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 6,418 shares of the financial services provider’s stock after buying an additional 4,242 shares during the period. Arkadios Wealth Advisors’ holdings in The PNC Financial Services Group were worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Capital International Investors lifted its holdings in The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the period. Dimensional Fund Advisors LP boosted its holdings in The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after buying an additional 100,993 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in 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 valued at $209,962,000 after buying an additional 262,654 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the sale, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at $104,052,553.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares in the company, valued at $104,052,553.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,279 shares of company stock valued at $4,395,540 in the last ninety days. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PNC shares. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Barclays upped their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Stock Down 1.7 %

Shares of NYSE:PNC opened at $185.82 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a fifty-two week low of $110.79 and a fifty-two week high of $196.64. The stock has a market cap of $73.94 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The firm’s 50 day moving average price is $182.56 and its 200 day moving average price is $168.28.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.60 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 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.