Border to Coast Pensions Partnership Ltd Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Border to Coast Pensions Partnership Ltd lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 116,299 shares of the financial services provider’s stock after buying an additional 4,961 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in The PNC Financial Services Group were worth $21,435,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC raised its stake in shares of The PNC Financial Services Group by 1.8% in the 1st quarter. Park Avenue Securities LLC now owns 11,147 shares of the financial services provider’s stock valued at $1,801,000 after purchasing an additional 196 shares in the last quarter. Congress Asset Management Co. MA acquired a new position in shares of The PNC Financial Services Group during the first quarter valued at $207,000. Ballentine Partners LLC boosted its stake in The PNC Financial Services Group by 22.9% during the 1st quarter. Ballentine Partners LLC now owns 5,964 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 1,110 shares during the period. AdvisorNet Financial Inc grew its position in The PNC Financial Services Group by 17.2% in the 1st quarter. AdvisorNet Financial Inc now owns 6,713 shares of the financial services provider’s stock worth $1,085,000 after purchasing an additional 983 shares during the last quarter. Finally, Southland Equity Partners LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. UBS Group upped their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their target price on 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. 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. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $185.71.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction 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 owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the sale, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,662 shares of company stock valued at $4,459,819 over the last ninety days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 1.7 %

Shares of PNC traded down $3.13 during trading hours on Monday, hitting $186.25. 788,740 shares of the company were exchanged, compared to its average volume of 1,864,037. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50 day moving average is $180.83 and its 200-day moving average is $167.27. The company has a market cap of $74.11 billion, a PE ratio of 15.90, a PEG ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’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 earned $3.60 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The PNC Financial Services Group’s payout ratio is 53.74%.

The PNC Financial Services Group Company 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.