Private Trust Co. NA Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Private Trust Co. NA lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,944 shares of the financial services provider’s stock after purchasing an additional 341 shares during the quarter. Private Trust Co. NA’s holdings in The PNC Financial Services Group were worth $1,838,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dynasty Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at $225,000. Ancora Advisors LLC raised its position in The PNC Financial Services Group by 0.8% in the 1st quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 73 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in The PNC Financial Services Group by 13.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 1,596 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of The PNC Financial Services Group by 1.2% during the first quarter. California State Teachers Retirement System now owns 659,280 shares of the financial services provider’s stock valued at $106,540,000 after buying an additional 7,748 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $1,421,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.1 %

Shares of PNC stock opened at $212.39 on Tuesday. The stock’s fifty day moving average price is $191.64 and its 200 day moving average price is $175.22. The PNC Financial Services Group, Inc. has a 1-year low of $127.49 and a 1-year high of $214.64. The company has a market cap of $84.27 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.60 earnings per share. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.01%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Activity

In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value 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 trade represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 38,649 shares in the company, valued at approximately $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 27,788 shares of company stock valued at $5,573,027 over the last ninety days. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNC. The Goldman Sachs Group decreased their price target on 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. Barclays boosted their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup upped their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI raised 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 report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $189.15.

About The PNC Financial Services Group

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.