The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Community Trust & Investment Co.

Community Trust & Investment Co. boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,242 shares of the financial services provider’s stock after buying an additional 113 shares during the quarter. Community Trust & Investment Co.’s holdings in The PNC Financial Services Group were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PNC. Valley Wealth Managers Inc. increased its position in shares of 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 acquiring an additional 200 shares during the period. Quarry LP grew its stake in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $51,000. Migdal Insurance & Financial Holdings Ltd. raised its position in The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 220 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $70,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $195.81 on Wednesday. The stock has a market cap of $77.69 billion, a P/E ratio of 16.55, a P/E/G ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The stock has a 50 day moving average of $201.75 and a two-hundred day moving average of $186.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.27%. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Compass Point lifted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $203.29.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the transaction, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,272 shares of company stock worth $6,164,890. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company 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.