PNC Financial Services Group Inc (PNC) Shares Bought by Bristlecone Advisors LLC

Bristlecone Advisors LLC lifted its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 62.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,096 shares of the financial services provider’s stock after acquiring an additional 4,641 shares during the quarter. Bristlecone Advisors LLC’s holdings in PNC Financial Services Group were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new position in shares of PNC Financial Services Group during the second quarter valued at $74,962,000. Janus Henderson Group PLC boosted its position in shares of PNC Financial Services Group by 37.6% during the second quarter. Janus Henderson Group PLC now owns 1,603,307 shares of the financial services provider’s stock valued at $216,609,000 after buying an additional 437,808 shares during the last quarter. Jennison Associates LLC boosted its position in shares of PNC Financial Services Group by 5.7% during the second quarter. Jennison Associates LLC now owns 6,520,884 shares of the financial services provider’s stock valued at $880,971,000 after buying an additional 353,976 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of PNC Financial Services Group by 932.7% during the second quarter. Advisors Asset Management Inc. now owns 382,419 shares of the financial services provider’s stock valued at $4,098,000 after buying an additional 345,388 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of PNC Financial Services Group by 557.2% during the second quarter. Millennium Management LLC now owns 354,139 shares of the financial services provider’s stock valued at $47,844,000 after buying an additional 300,255 shares during the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.

In other news, EVP Robert Q. Reilly sold 24,710 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $140.49, for a total value of $3,471,507.90. Following the sale, the executive vice president now owns 131,020 shares in the company, valued at $18,406,999.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

PNC opened at $131.76 on Wednesday. The firm has a market capitalization of $60.30 billion, a PE ratio of 15.50, a P/E/G ratio of 1.28 and a beta of 0.92. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.90 and a quick ratio of 0.89. PNC Financial Services Group Inc has a 12 month low of $116.55 and a 12 month high of $163.59.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.09. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. During the same period in the previous year, the company posted $2.16 EPS. Research analysts expect that PNC Financial Services Group Inc will post 10.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Wednesday, October 17th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Tuesday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 44.71%.

Several research analysts have issued reports on the company. UBS Group set a $137.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Monday, October 15th. Nomura lowered their price objective on PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Vining Sparks reissued a “buy” rating and set a $160.00 target price on shares of PNC Financial Services Group in a research note on Tuesday, October 9th. ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, BMO Capital Markets reduced their price objective on PNC Financial Services Group to $139.00 and set an “outperform” rating on the stock in a research note on Monday, October 15th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $155.50.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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