Miracle Mile Advisors LLC Buys New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Miracle Mile Advisors LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,590 shares of the financial services provider’s stock, valued at approximately $500,000.

A number of other large investors also recently modified their holdings of PNC. Loomis Sayles & Co. L P raised its position in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 50 shares in the last quarter. MFA Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares in the last quarter. Altman Advisors Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares in the last quarter. Finally, Valley Brook Capital Group Inc. grew its position in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 57 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $200.07 on Thursday. 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 stock’s 50 day moving average is $201.75 and its two-hundred day moving average is $186.58. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The firm has a market capitalization of $79.38 billion, a PE ratio of 16.91, a P/E/G ratio of 2.11 and a beta of 1.16.

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

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.20%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PNC. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Compass Point lifted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays increased their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Evercore ISI lifted 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 report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $203.29.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total value 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. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,272 shares of company stock worth $6,164,890 over the last 90 days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.