Aaron Wealth Advisors LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Aaron Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,396 shares of the financial services provider’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in The PNC Financial Services Group by 38.4% during the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after acquiring an additional 291,769 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of The PNC Financial Services Group by 152.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after purchasing an additional 276,200 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after purchasing an additional 262,654 shares during the last quarter. Marshall Wace LLP grew its stake in shares of The PNC Financial Services Group by 5,419.9% during the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after purchasing an additional 254,356 shares during the period. Finally, Legal & General Group Plc increased its holdings in The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the transaction, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the sale, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,420 shares of company stock worth $4,223,131 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $189.38 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64. The company’s fifty day simple moving average is $180.83 and its 200-day simple moving average is $167.20. The firm has a market cap of $75.28 billion, a PE ratio of 15.86, a P/E/G ratio of 2.06 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.60 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.60%.

Analysts Set New Price Targets

PNC has been the subject of several analyst reports. Morgan Stanley boosted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday. The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. UBS Group lifted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods upped 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. Finally, Stephens raised their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $185.71.

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.