GM Advisory Group LLC Invests $232,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

GM Advisory Group LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,254 shares of the financial services provider’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new position in The PNC Financial Services Group in the third quarter valued at approximately $12,548,000. Bleakley Financial Group LLC grew its holdings in The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $822,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $18,159,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

PNC opened at $210.07 on Friday. 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 company has a market capitalization of $83.35 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.15 and a beta of 1.13. The business’s 50-day moving average price is $191.01 and its two-hundred day moving average price is $174.58. The PNC Financial Services Group, Inc. has a 1 year low of $127.15 and a 1 year high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm earned $3.60 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $181.35, for a total transaction of $225,236.70. Following the sale, the chief executive officer now owns 548,491 shares in the company, valued at approximately $99,468,842.85. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,546 shares of company stock worth $5,317,200. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Barclays upped their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. 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 research note on Wednesday, September 11th. Finally, Evercore ISI lifted their price target on shares of 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.