Encompass More Asset Management Takes $201,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Encompass More Asset Management acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, HoldingsChannel reports. The fund acquired 1,086 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $26,000. ORG Partners LLC lifted its stake in 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 worth $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC purchased a new stake in The PNC Financial Services Group during the first quarter valued at about $28,000. Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group during the second quarter valued at about $33,000. Finally, Valley Wealth Managers Inc. increased its holdings in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred on 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 owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,546 shares of company stock worth $5,345,530. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Compass Point downgraded 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 increased their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $189.15.

The PNC Financial Services Group Price Performance

PNC stock opened at $214.72 on Friday. 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, Inc. has a 1 year low of $132.11 and a 1 year high of $216.26. The firm has a 50-day moving average of $194.07 and a 200 day moving average of $176.68. The company has a market cap of $85.20 billion, a P/E ratio of 18.15, a PEG ratio of 2.25 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm 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 yield of 2.98%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 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.