Allworth Financial LP Purchases 4,162 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Allworth Financial LP raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 41.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,183 shares of the financial services provider’s stock after acquiring an additional 4,162 shares during the quarter. Allworth Financial LP’s holdings in The PNC Financial Services Group were worth $2,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Vicus Capital acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $300,000. Hexagon Capital Partners LLC grew its stake in The PNC Financial Services Group by 8.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,738 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 133 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of The PNC Financial Services Group by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 940,225 shares of the financial services provider’s stock worth $151,940,000 after purchasing an additional 5,785 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of The PNC Financial Services Group by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 43,183 shares of the financial services provider’s stock worth $6,978,000 after purchasing an additional 165 shares in the last quarter. Finally, Leeward Financial Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 46.2% in the 1st quarter. Leeward Financial Partners LLC now owns 22,678 shares of the financial services provider’s stock valued at $3,665,000 after buying an additional 7,171 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on PNC shares. Jefferies Financial Group upped their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Barclays upped 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 report on Wednesday, October 16th. Stephens lifted their price target on 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 lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley lifted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note 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 assigned a buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Stock Down 1.7 %

Shares of PNC opened at $185.82 on Monday. 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 PNC Financial Services Group, Inc. has a 12 month low of $110.79 and a 12 month high of $196.64. The firm’s 50 day moving average is $182.56 and its 200-day moving average is $168.28. The stock has a market capitalization of $73.94 billion, a PE ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business 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 return on equity of 10.88% and a net margin of 14.97%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.60 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company 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. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.44%. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now owns 546,007 shares in the company, valued at approximately $104,052,553.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,279 shares of company stock valued at $4,395,540 in the last ninety days. 0.42% of the stock is currently owned by company insiders.

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.