Nations Financial Group Inc. IA ADV Acquires Shares of 1,244 The PNC Financial Services Group, Inc. (NYSE:PNC)

Nations Financial Group Inc. IA ADV acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,244 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Empowered Funds LLC raised its stake in shares of The PNC Financial Services Group by 8.7% during the 1st quarter. Empowered Funds LLC now owns 5,322 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 426 shares during the period. Kingsview Wealth Management LLC boosted its position in The PNC Financial Services Group by 3.1% during the first quarter. Kingsview Wealth Management LLC now owns 17,955 shares of the financial services provider’s stock valued at $2,902,000 after buying an additional 541 shares during the period. Orion Portfolio Solutions LLC boosted its position in The PNC Financial Services Group by 1.8% during the first quarter. Orion Portfolio Solutions LLC now owns 44,457 shares of the financial services provider’s stock valued at $7,184,000 after buying an additional 796 shares during the period. ProVise Management Group LLC purchased a new stake in The PNC Financial Services Group during the first quarter valued at about $203,000. Finally, M&G Plc purchased a new stake in shares of The PNC Financial Services Group during the first quarter worth about $5,945,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,546 shares of company stock worth $5,277,493. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $207.96 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $126.41 and a 12-month high of $214.19. The stock has a market cap of $82.51 billion, a P/E ratio of 17.58, a PEG ratio of 2.23 and a beta of 1.13. The company has a 50-day moving average price of $187.09 and a 200 day moving average price of $172.19. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current 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 given 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 3.08%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PNC shares. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Evercore ISI raised their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $185.71.

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.