Nations Financial Group Inc. IA ADV Makes New $230,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Nations Financial Group Inc. IA ADV acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,244 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Concurrent Investment Advisors LLC increased its holdings in The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 2,009 shares in the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC lifted its holdings in The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after buying an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $822,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $18,159,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction 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 in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,546 shares of company stock worth $5,277,493. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 0.6 %

NYSE:PNC opened at $207.96 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $126.41 and a 12 month high of $214.19. The firm has a market cap of $82.51 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.23 and a beta of 1.13. 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 company’s 50 day moving average is $187.09 and its 200-day moving average is $172.19.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company earned $3.60 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.08%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PNC. Barclays increased their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Stephens raised their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two 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. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $185.71.

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.