Prospera Financial Services Inc Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Prospera Financial Services Inc increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.1% in the third quarter, Holdings Channel reports. The firm owned 64,247 shares of the financial services provider’s stock after purchasing an additional 3,099 shares during the quarter. Prospera Financial Services Inc’s holdings in The PNC Financial Services Group were worth $11,877,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. ORG Partners LLC increased its holdings in shares of The PNC Financial Services Group by 203.7% in the 2nd 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 shares of The PNC Financial Services Group during the second quarter worth $26,000. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $28,000. Valley Wealth Managers Inc. boosted its holdings in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $206.83 on Tuesday. The company has a 50-day moving average of $188.73 and a 200-day moving average of $173.43. The firm has a market cap of $82.07 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 2.17 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, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping 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 firm 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 business posted $3.60 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 555,943 shares in the company, valued at $97,929,359.45. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock worth $5,535,978 over the last ninety days. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on PNC. Evercore ISI lifted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $186.96.

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.