1,800 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Atlas Wealth Partners LLC

Atlas Wealth Partners LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,800 shares of the financial services provider’s stock, valued at approximately $333,000.

Several other institutional investors also recently made changes to their positions in the stock. Bank & Trust Co acquired a new position in The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC grew its holdings in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at approximately $29,000. Finally, Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter valued at approximately $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PNC shares. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Stephens boosted their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Royal Bank of Canada upped their target price 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. Morgan Stanley raised their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Two investment 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Price Performance

PNC opened at $189.38 on Friday. The company has a market capitalization of $75.28 billion, a P/E ratio of 15.86, a PEG ratio of 2.06 and a beta of 1.14. The company has a 50-day moving average of $180.83 and a 200-day moving average of $167.20. 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 PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $196.64.

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, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company earned $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.60%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the sale, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 $36,151,670.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,420 shares of company stock worth $4,223,131 over the last ninety days. 0.42% of the stock is owned by insiders.

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.