Bay Harbor Wealth Management LLC Purchases 615 Shares of PNC Financial Services Group Inc (NYSE:PNC)

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Bay Harbor Wealth Management LLC grew its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 88.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,314 shares of the financial services provider’s stock after buying an additional 615 shares during the period. Bay Harbor Wealth Management LLC’s holdings in PNC Financial Services Group were worth $184,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Brightworth grew its holdings in shares of PNC Financial Services Group by 4.1% during the 2nd quarter. Brightworth now owns 1,784 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 70 shares in the last quarter. SevenBridge Financial Group LLC grew its holdings in shares of PNC Financial Services Group by 0.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 14,576 shares of the financial services provider’s stock worth $2,043,000 after purchasing an additional 75 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of PNC Financial Services Group by 0.7% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 11,211 shares of the financial services provider’s stock worth $1,539,000 after purchasing an additional 81 shares in the last quarter. Nelson Roberts Investment Advisors LLC grew its holdings in shares of PNC Financial Services Group by 14.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 637 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 82 shares in the last quarter. Finally, Western Wealth Management LLC grew its holdings in shares of PNC Financial Services Group by 3.8% during the 2nd quarter. Western Wealth Management LLC now owns 2,253 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

In other news, CEO William S. Demchak sold 75,000 shares of PNC Financial Services Group stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $140.63, for a total transaction of $10,547,250.00. Following the sale, the chief executive officer now directly owns 657,179 shares of the company’s stock, valued at $92,419,082.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 17,132 shares of PNC Financial Services Group stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $135.11, for a total value of $2,314,704.52. Following the sale, the chief executive officer now directly owns 507,979 shares in the company, valued at $68,633,042.69. The disclosure for this sale can be found here. Insiders sold 158,374 shares of company stock worth $22,168,172 over the last ninety days. 0.37% of the stock is currently owned by insiders.

PNC has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Robert W. Baird set a $141.00 target price on PNC Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 26th. Zacks Investment Research lowered PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 target price on the stock. in a report on Tuesday, October 1st. Morgan Stanley set a $141.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, UBS Group raised their price objective on PNC Financial Services Group from $139.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $142.91.

NYSE:PNC traded up $1.70 during trading hours on Tuesday, hitting $142.22. The company’s stock had a trading volume of 1,303,822 shares, compared to its average volume of 2,040,422. The stock has a fifty day simple moving average of $136.16 and a 200-day simple moving average of $134.16. The company has a market capitalization of $62.51 billion, a P/E ratio of 13.28, a PEG ratio of 1.84 and a beta of 1.13. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $144.32.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.05. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. PNC Financial Services Group’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.72 earnings per share. On average, equities analysts predict that PNC Financial Services Group Inc will post 11.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Thursday, October 17th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.95%.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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