The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Raised by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,277 shares of the financial services provider’s stock after buying an additional 131 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $4,488,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PNC. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at $26,000. ORG Partners LLC increased its stake 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 valued at $26,000 after buying an additional 110 shares during the period. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth about $28,000. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in The PNC Financial Services Group in the second quarter worth approximately $38,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $207.68 on Friday. The company has a market capitalization of $82.40 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 2.21 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $127.08 and a 1-year high of $214.19. 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 stock’s fifty day simple moving average is $187.63 and its 200-day simple moving average is $172.44.

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 for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.60 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.46 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group reduced their price objective 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 report on Wednesday, September 11th. 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 report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $186.96.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock worth $5,277,493 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

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.