LPL Financial LLC Purchases 31,318 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LPL Financial LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 628,897 shares of the financial services provider’s stock after acquiring an additional 31,318 shares during the period. LPL Financial LLC owned 0.16% of The PNC Financial Services Group worth $116,252,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC grew its holdings 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 in the last quarter. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $28,000. Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group in the second quarter worth about $33,000. Finally, Valley Wealth Managers Inc. grew its stake in 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 valued at $37,000 after acquiring an additional 200 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the transaction, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,317,200 over the last three months. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. Evercore ISI upped 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 note on Wednesday, October 16th. Wells Fargo & Company increased 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 report on Friday, November 15th. Stephens lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $186.96.

The PNC Financial Services Group Stock Up 2.1 %

Shares of NYSE PNC opened at $210.07 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $127.15 and a 52 week high of $214.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm’s fifty day moving average is $191.01 and its 200 day moving average is $174.58. The company has a market cap of $83.35 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.15 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 EPS for the quarter, beating 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 return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.60 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.