The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Mcdonald Partners LLC

Mcdonald Partners LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 26.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,322 shares of the financial services provider’s stock after purchasing an additional 1,732 shares during the period. Mcdonald Partners LLC’s holdings in The PNC Financial Services Group were worth $1,345,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in The PNC Financial Services Group by 10.5% during the 3rd quarter. Acadian Asset Management LLC now owns 23,845 shares of the financial services provider’s stock worth $2,923,000 after acquiring an additional 2,272 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in The PNC Financial Services Group by 103.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 11,666 shares of the financial services provider’s stock worth $1,432,000 after acquiring an additional 5,937 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in The PNC Financial Services Group by 5.1% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,239 shares of the financial services provider’s stock worth $1,380,000 after acquiring an additional 550 shares in the last quarter. Natixis Advisors L.P. grew its holdings in The PNC Financial Services Group by 2.5% during the 3rd quarter. Natixis Advisors L.P. now owns 254,300 shares of the financial services provider’s stock worth $31,221,000 after acquiring an additional 6,161 shares in the last quarter. Finally, Consolidated Portfolio Review Corp boosted its holdings in shares of The PNC Financial Services Group by 15.9% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,931 shares of the financial services provider’s stock valued at $237,000 after buying an additional 265 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Jefferies Financial Group decreased their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $158.43.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $0.16 during midday trading on Wednesday, reaching $151.74. 1,842,272 shares of the company were exchanged, compared to its average volume of 1,900,649. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market cap of $60.38 billion, a P/E ratio of 12.74, a PEG ratio of 2.17 and a beta of 1.16. The company’s 50 day moving average price is $154.95 and its two-hundred day moving average price is $152.74. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm earned $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.09%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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.