Chicago Partners Investment Group LLC Boosts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Chicago Partners Investment Group LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,470 shares of the financial services provider’s stock after buying an additional 470 shares during the period. Chicago Partners Investment Group LLC’s holdings in The PNC Financial Services Group were worth $465,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC boosted its position in shares of The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 55 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of 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 valued at $3,148,000 after purchasing an additional 56 shares in the last quarter. Valley Brook Capital Group Inc. increased its position in The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 62 shares during the last quarter. Ledyard National Bank increased its position in The PNC Financial Services Group by 2.8% during the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 64 shares during the last quarter. Finally, Kowal Investment Group LLC increased its position in The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 68 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 firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now directly owns 557,185 shares of the company’s stock, valued at approximately $95,724,383. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now directly owns 557,185 shares of the company’s stock, valued at approximately $95,724,383. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on 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 directly 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. Insiders sold 14,521 shares of company stock valued at $2,653,950 in the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $185.95 on Tuesday. The firm has a market cap of $73.92 billion, a PE ratio of 15.72, a PEG ratio of 2.00 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $118.56 and a 12 month high of $196.64. The stock has a 50 day moving average of $184.09 and a 200 day moving average of $169.92. 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 posted 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 business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.60 EPS. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their target price 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. Finally, Stephens increased their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.