Premier Fund Managers Ltd Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Premier Fund Managers Ltd purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,730 shares of the financial services provider’s stock, valued at approximately $6,541,000.

Other large investors also recently modified their holdings of the company. ORG Partners LLC boosted its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Bank & Trust Co bought a new stake in The PNC Financial Services Group during the 2nd quarter worth $26,000. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Valley Wealth Managers Inc. increased its position in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group in the second quarter valued at $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 that occurred on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. The trade was a 0.22 % 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 stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock worth $5,535,978 over the last three months. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 1.0 %

Shares of PNC stock opened at $204.86 on Wednesday. The PNC Financial Services Group, Inc. has a 1 year low of $127.08 and a 1 year high of $214.19. The company’s fifty day simple moving average is $189.25 and its two-hundred day simple moving average is $173.78. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $81.28 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates 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 revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.60 earnings per share. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.12%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Stephens raised their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $186.96.

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.