The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 242.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,341 shares of the financial services provider’s stock after acquiring an additional 7,323 shares during the period. JFS Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. BSN CAPITAL PARTNERS Ltd purchased a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC boosted its stake in shares of The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $822,000. Equity Investment Corp boosted its stake in shares of The PNC Financial Services Group by 3.4% in the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after buying an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP boosted its stake in shares of The PNC Financial Services Group by 108.5% in the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after buying an additional 10,743 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $190.31 on Thursday. The business’s 50-day moving average price is $183.49 and its 200 day moving average price is $168.94. The PNC Financial Services Group, Inc. has a twelve month low of $112.36 and a twelve month high of $196.64. The company has a market capitalization of $75.73 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. 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 released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the business posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.36%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the company’s 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 sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,521 shares of company stock worth $2,634,475. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI lifted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. 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 report on Wednesday, September 11th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada lifted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price 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.