ORG Partners LLC Acquires 698 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

ORG Partners LLC boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 425.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 862 shares of the financial services provider’s stock after purchasing an additional 698 shares during the period. ORG Partners LLC’s holdings in The PNC Financial Services Group were worth $159,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PNC. Capital International Investors lifted its stake in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. increased its stake in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares during the period. Legal & General Group Plc lifted its position 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. Dimensional Fund Advisors LP boosted its stake in shares of The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after purchasing an additional 100,993 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of The PNC Financial Services Group by 24.1% in the second 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. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.00, for a total transaction of $229,770.00. Following the completion of the transaction, the chief executive officer now directly owns 547,249 shares in the company, valued at $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the completion of the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,662 shares of company stock valued at $4,442,555. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group increased their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Citigroup upped their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Evercore ISI lifted their price objective on The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $177.65.

The PNC Financial Services Group Stock Up 2.1 %

Shares of The PNC Financial Services Group stock opened at $192.48 on Wednesday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $196.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The company has a 50-day moving average of $179.61 and a 200 day moving average of $166.61. The firm has a market cap of $76.59 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm earned $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.

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.