MONECO Advisors LLC Invests $2.13 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

MONECO Advisors LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,507 shares of the financial services provider’s stock, valued at approximately $2,127,000.

A number of other hedge funds and other institutional investors have also recently 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 first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after buying an additional 78,407 shares during the period. Ameriprise Financial Inc. increased its stake in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after acquiring an additional 18,397 shares during the period. Legal & General Group Plc raised its holdings in The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after acquiring an additional 223,955 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of The PNC Financial Services Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after acquiring 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% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $190.27, for a total value of $236,315.34. Following the transaction, the chief executive officer now owns 544,765 shares in the company, valued at $103,652,436.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the completion of the sale, the chief executive officer now directly owns 544,765 shares of the company’s stock, valued at $103,652,436.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,521 shares of company stock worth $4,631,855 over the last 90 days. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $0.63 during midday trading on Tuesday, reaching $189.20. The company’s stock had a trading volume of 30,033 shares, compared to its average volume of 1,851,380. The business’s fifty day simple moving average is $182.86 and its 200-day simple moving average is $168.53. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $111.08 and a fifty-two week high of $196.64. The company has a market capitalization of $75.28 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.98 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.60 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders 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 annualized dividend and a dividend yield of 3.38%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNC. Evercore ISI upped 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. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their price target on shares of 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 analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

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.