Atlas Wealth Partners LLC Acquires New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Atlas Wealth Partners LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 3rd quarter, HoldingsChannel reports. The fund bought 1,800 shares of the financial services provider’s stock, valued at approximately $333,000.

Several other large investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $26,000. ORG Partners LLC boosted its position in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the period. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter valued at $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.3 %

Shares of NYSE PNC opened at $189.38 on Friday. The business has a 50 day simple moving average of $180.83 and a 200 day simple moving average of $167.20. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64. The stock has a market cap of $75.28 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.06 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

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

The PNC Financial Services Group Dividend Announcement

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

Analysts Set New Price Targets

PNC has been the subject of several research reports. Jefferies Financial Group raised their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley raised 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. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, UBS Group upped their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $185.71.

Insiders Place Their Bets

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

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.