DMC Group LLC Has $558,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

DMC Group LLC grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 24.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,016 shares of the financial services provider’s stock after purchasing an additional 584 shares during the quarter. DMC Group LLC’s holdings in The PNC Financial Services Group were worth $558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Jennison Associates LLC grew its holdings in The PNC Financial Services Group by 38.4% during the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after acquiring an additional 291,769 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of The PNC Financial Services Group by 152.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after purchasing an additional 276,200 shares during the period. Hsbc Holdings PLC grew its stake in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after purchasing an additional 262,654 shares during the last quarter. Marshall Wace LLP increased its holdings in The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares during the period. Finally, Legal & General Group Plc raised its position in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after purchasing an additional 223,955 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the sale, the chief executive officer now owns 560,911 shares in the company, valued at $101,233,217.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction 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 completion of the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the 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 approximately $101,233,217.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,420 shares of company stock worth $4,223,131 over the last three months. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 0.3 %

PNC stock opened at $189.38 on Friday. The stock’s 50 day simple moving average is $180.83 and its 200 day simple moving average is $167.20. The company has a market cap of $75.28 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. 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 fifty-two week low of $109.40 and a fifty-two week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm earned $3.60 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.60%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Citigroup raised their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock 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 research note on Wednesday. Finally, UBS Group lifted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two 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.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $185.71.

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.