Plato Investment Management Ltd Has $1.58 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Plato Investment Management Ltd increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,559 shares of the financial services provider’s stock after purchasing an additional 543 shares during the quarter. Plato Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $1,581,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PNC. ORG Partners LLC lifted its stake in 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 acquiring an additional 110 shares during the last quarter. Bank & Trust Co acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in The PNC Financial Services Group in the first quarter valued at approximately $28,000. Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $38,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Stephens lifted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Barclays boosted their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Trading Down 0.6 %

Shares of PNC stock opened at $207.96 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $126.41 and a 1 year high of $214.19. The firm’s fifty day simple moving average is $187.09 and its 200 day simple moving average is $172.19. The firm has a market capitalization of $82.51 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the firm posted $3.60 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at $97,929,359.45. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock valued at $5,277,493 in the last 90 days. 0.42% of the stock is currently owned by company 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.