PNC Financial Services Group Inc (NYSE:PNC) Shares Bought by Private Ocean LLC

Private Ocean LLC raised its position in PNC Financial Services Group Inc (NYSE:PNC) by 101.5% in the 3rd quarter, Holdings Channel reports. The fund owned 397 shares of the financial services provider’s stock after acquiring an additional 200 shares during the period. Private Ocean LLC’s holdings in PNC Financial Services Group were worth $56,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. increased its holdings in shares of PNC Financial Services Group by 3.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,902 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 101 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of PNC Financial Services Group by 2.9% in the 2nd quarter. Moors & Cabot Inc. now owns 11,036 shares of the financial services provider’s stock valued at $1,510,000 after purchasing an additional 311 shares in the last quarter. Joel Isaacson & Co. LLC increased its holdings in shares of PNC Financial Services Group by 31.8% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 4,166 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 1,006 shares in the last quarter. Park National Corp OH increased its holdings in PNC Financial Services Group by 9.6% during the 2nd quarter. Park National Corp OH now owns 74,862 shares of the financial services provider’s stock valued at $10,277,000 after acquiring an additional 6,529 shares in the last quarter. Finally, Tiverton Asset Management LLC increased its holdings in PNC Financial Services Group by 21.4% during the 2nd quarter. Tiverton Asset Management LLC now owns 20,769 shares of the financial services provider’s stock valued at $2,851,000 after acquiring an additional 3,665 shares in the last quarter. Institutional investors own 80.68% of the company’s stock.

Several research firms have weighed in on PNC. UBS Group raised their target price on shares of PNC Financial Services Group from $142.00 to $146.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Barclays set a $158.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Thursday, October 17th. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of PNC Financial Services Group from $147.50 to $155.50 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Zacks Investment Research downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 target price for the company. in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $146.20.

In other news, EVP Joseph E. Rockey sold 10,000 shares of PNC Financial Services Group stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the completion of the sale, the executive vice president now directly owns 18,453 shares in the company, valued at $2,675,685. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles E. Bunch purchased 1,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $124.38 per share, with a total value of $124,380.00. Following the completion of the acquisition, the director now owns 3,781 shares of the company’s stock, valued at $470,280.78. The disclosure for this purchase can be found here. Insiders own 0.37% of the company’s stock.

NYSE:PNC traded down $0.87 during mid-day trading on Friday, hitting $152.20. 1,573,036 shares of the company’s stock traded hands, compared to its average volume of 2,010,443. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88. The firm’s 50 day simple moving average is $143.35 and its 200 day simple moving average is $136.47. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $154.75. The company has a market cap of $67.25 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.14. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 earnings per share. On average, research analysts expect that PNC Financial Services Group Inc will post 11.33 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.02%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.95%.

PNC Financial Services Group 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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