Moloney Securities Asset Management LLC Buys 570 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Moloney Securities Asset Management LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.7% in the 3rd quarter, Holdings Channel reports. The firm owned 10,547 shares of the financial services provider’s stock after acquiring an additional 570 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in The PNC Financial Services Group were worth $1,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Catalyst Capital Advisors LLC purchased a new position in The PNC Financial Services Group during the third quarter valued at approximately $71,000. Hazlett Burt & Watson Inc. grew its stake in The PNC Financial Services Group by 12.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 4,850 shares of the financial services provider’s stock worth $892,000 after buying an additional 550 shares in the last quarter. Leeward Financial Partners LLC increased its holdings in shares of The PNC Financial Services Group by 3.0% in the 3rd quarter. Leeward Financial Partners LLC now owns 14,039 shares of the financial services provider’s stock worth $2,595,000 after buying an additional 406 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of The PNC Financial Services Group by 2.4% during the 3rd quarter. QRG Capital Management Inc. now owns 41,544 shares of the financial services provider’s stock worth $7,679,000 after acquiring an additional 982 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in The PNC Financial Services Group by 1.5% in the third quarter. Asset Management One Co. Ltd. now owns 155,119 shares of the financial services provider’s stock valued at $28,674,000 after acquiring an additional 2,251 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,521 shares of company stock valued at $2,653,950 in the last three months. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

PNC opened at $185.95 on Tuesday. The firm has a market cap of $73.92 billion, a P/E ratio of 15.72, a PEG ratio of 1.99 and a beta of 1.13. 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 50 day simple moving average of $184.09 and a two-hundred day simple moving average of $169.92. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results 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 business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.44%. The PNC Financial Services Group’s payout ratio is 54.10%.

Analyst Ratings Changes

Several brokerages have issued reports on PNC. Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Stephens increased their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Royal Bank of Canada lifted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $185.71.

About The PNC Financial Services Group

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.