Hazlett Burt & Watson Inc. Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hazlett Burt & Watson Inc. grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,850 shares of the financial services provider’s stock after acquiring an additional 550 shares during the period. Hazlett Burt & Watson Inc.’s holdings in The PNC Financial Services Group were worth $892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth about $26,000. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the first quarter worth approximately $28,000. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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 directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated 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 transaction, the director now owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now owns 557,185 shares of the company’s stock, valued at $95,724,383. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,279 shares of company stock valued at $2,418,591. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PNC. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Barclays upped their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. 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. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $0.17 during trading hours on Monday, hitting $187.32. 258,143 shares of the company were exchanged, compared to its average volume of 1,847,662. The business has a 50-day moving average of $183.94 and a 200-day moving average of $169.65. The PNC Financial Services Group, Inc. has a 1 year low of $118.56 and a 1 year high of $196.64. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $74.46 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.00 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.60 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.42%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

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.