Empowered Funds LLC Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Empowered Funds LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 448.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,281 shares of the financial services provider’s stock after buying an additional 27,209 shares during the quarter. Empowered Funds LLC’s holdings in The PNC Financial Services Group were worth $6,152,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MFA Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 55 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after buying an additional 56 shares during the period. Valley Brook Capital Group Inc. boosted its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after buying an additional 57 shares during the last quarter. Ledyard National Bank grew its holdings in The PNC Financial Services Group by 2.8% in the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after buying an additional 64 shares during the period. Finally, Kowal Investment Group LLC lifted its holdings in shares of The PNC Financial Services Group by 2.6% during the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $207.68 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.08 and a fifty-two week high of $214.19. The stock’s 50-day moving average is $188.25 and its two-hundred day moving average is $172.94. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $82.40 billion, a P/E ratio of 17.56, a PEG ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (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 in the previous year, the business earned $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders 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 is 54.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PNC shares. The Goldman Sachs Group lowered 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 report on Wednesday, September 11th. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price 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 company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $186.96.

Get Our Latest Stock Analysis on The PNC Financial Services Group

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the completion of the sale, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,277,493 over the last ninety days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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