2,621 Shares in The PNC Financial Services Group, Inc $PNC Acquired by MLP3 LLC

MLP3 LLC purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, Holdings Channel.com reports. The fund purchased 2,621 shares of the financial services provider’s stock, valued at approximately $582,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highland Investment Advisors LLC acquired a new position in The PNC Financial Services Group in the second quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $28,000. Archer Investment Corp acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at $33,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC raised its holdings in shares of The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating on the stock in a report on Friday, October 16th. Robert W. Baird boosted their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. UBS Group reduced their target price on shares of The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. DA Davidson increased their price target on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.13.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 0.5%

Shares of PNC traded down $1.04 during trading hours on Friday, hitting $224.49. 1,431,452 shares of the stock traded hands, compared to its average volume of 2,170,116. The business has a fifty day moving average of $232.07 and a 200-day moving average of $233.54. The firm has a market capitalization of $89.56 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.94. The PNC Financial Services Group, Inc has a 1-year low of $177.08 and a 1-year high of $258.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping 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 firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same period last year, the company earned $4.35 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc will post 19.22 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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

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.