The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Prospector Partners LLC

Prospector Partners LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.7% during the third quarter, HoldingsChannel reports. The firm owned 91,780 shares of the financial services provider’s stock after purchasing an additional 14,430 shares during the quarter. The PNC Financial Services Group comprises approximately 1.8% of Prospector Partners LLC’s portfolio, making the stock its 20th biggest holding. Prospector Partners LLC’s holdings in The PNC Financial Services Group were worth $16,966,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Bank & Trust Co acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC boosted its holdings in shares of 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 acquired a new position in shares of The PNC Financial Services Group during the first quarter worth about $28,000. Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group during the second quarter worth about $33,000. Finally, Valley Wealth Managers Inc. raised its holdings in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,788 shares of company stock worth $5,573,027. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Evercore ISI boosted 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 report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $189.15.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $212.39 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The business’s fifty day moving average price is $191.64 and its two-hundred day moving average price is $175.22. The stock has a market cap of $84.27 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The PNC Financial Services Group, Inc. has a one year low of $127.49 and a one year high of $214.64.

The PNC Financial Services Group (NYSE:PNC) last posted 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 firm had revenue of $5.43 billion during 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.60 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 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.