11,863 Shares of The PNC Financial Services Group, Inc $PNC Bought by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,863 shares of the financial services provider’s stock, valued at approximately $2,637,000.

Other large investors have also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its stake in The PNC Financial Services Group by 2,002.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 10,661 shares of the financial services provider’s stock valued at $2,370,000 after acquiring an additional 10,154 shares during the last quarter. Capital Investment Advisors LLC raised its position in The PNC Financial Services Group by 2.2% during the third quarter. Capital Investment Advisors LLC now owns 4,027 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 88 shares in the last quarter. Wedbush Securities Inc. lifted its stake in The PNC Financial Services Group by 13.9% during the third quarter. Wedbush Securities Inc. now owns 4,656 shares of the financial services provider’s stock worth $1,035,000 after purchasing an additional 568 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 0.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 28,776 shares of the financial services provider’s stock worth $6,396,000 after purchasing an additional 83 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in The PNC Financial Services Group by 6.6% during the third quarter. WASHINGTON TRUST Co now owns 6,885 shares of the financial services provider’s stock worth $1,530,000 after purchasing an additional 425 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded down $1.04 during midday trading on Friday, reaching $224.49. 1,431,452 shares of the company were exchanged, compared to its average volume of 2,170,116. The stock’s 50-day moving average price is $232.07 and its 200-day moving average price is $233.54. The stock has a market cap of $89.56 billion, a P/E ratio of 11.95, a PEG ratio of 1.17 and a beta of 0.94. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The PNC Financial Services Group, Inc has a one year low of $177.08 and a one year high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the prior year, the company earned $4.35 EPS. The PNC Financial Services Group’s revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research analyst reports. Royal Bank Of Canada reduced their target price on The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Bank of America dropped their price objective on The PNC Financial Services Group from $291.00 to $276.00 in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft lowered The PNC Financial Services Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $230.00 to $265.00 in a research note on Thursday, July 23rd. Oppenheimer boosted their target price on The PNC Financial Services Group from $263.00 to $269.00 and gave the stock an “outperform” rating in a research note on Friday, October 16th. Finally, Morgan Stanley dropped their target price on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $266.13.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.