Prospera Financial Services Inc Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Prospera Financial Services Inc raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,247 shares of the financial services provider’s stock after buying an additional 3,099 shares during the period. Prospera Financial Services Inc’s holdings in The PNC Financial Services Group were worth $11,877,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. MFA Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC raised its stake in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after acquiring an additional 56 shares in the last quarter. Valley Brook Capital Group Inc. lifted its position in The PNC Financial Services Group by 0.5% in the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after acquiring an additional 57 shares during the last quarter. Ledyard National Bank boosted its stake in The PNC Financial Services Group by 2.8% in the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC grew its holdings in shares of The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 68 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group 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 completion of the sale, the director now owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the sale, the chief executive officer now owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock valued at $5,535,978 over the last quarter. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $206.83 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.08 and a fifty-two week high of $214.19. The business has a fifty day moving average of $188.73 and a 200-day moving average of $173.43. The stock has a market cap of $82.07 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm earned $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $186.96.

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.