The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,104 shares of the financial services provider’s stock after acquiring an additional 341 shares during the quarter. The PNC Financial Services Group comprises approximately 1.2% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 24th biggest position. Commonwealth Retirement Investments LLC’s holdings in The PNC Financial Services Group were worth $2,792,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Concurrent Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after acquiring an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $12,548,000. Bleakley Financial Group LLC boosted its holdings in shares of The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $822,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $18,159,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Stephens increased 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. Morgan Stanley increased their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods increased their price objective 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $1.23 during trading hours on Tuesday, reaching $210.94. 230,488 shares of the company traded hands, compared to its average volume of 1,865,523. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $83.70 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $118.89 and a fifty-two week high of $211.35. The stock has a fifty day simple moving average of $186.02 and a 200 day simple moving average of $171.55.

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 analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.60 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was 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 $170,299.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The shares were 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 in the company, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,279 shares of company stock valued at $2,442,673. Insiders own 0.42% of the company’s stock.

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.