Community Trust & Investment Co. Takes $209,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Community Trust & Investment Co. bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,129 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other hedge funds have also modified their holdings of PNC. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $26,000. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $29,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $33,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Finally, Stephens upped their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $185.71.

Insider Activity

In related news, 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 value of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 ownership of the stock. The transaction was disclosed in a filing 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 dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the sale, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,662 shares of company stock valued at $4,459,819. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 0.3 %

NYSE PNC opened at $186.28 on Wednesday. The firm has a 50 day simple moving average of $181.56 and a 200-day simple moving average of $167.68. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $196.64. The firm has a market cap of $74.05 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.02 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 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed 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. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.