L.M. Kohn & Company Grows Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

L.M. Kohn & Company increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,828 shares of the financial services provider’s stock after buying an additional 103 shares during the quarter. L.M. Kohn & Company’s holdings in The PNC Financial Services Group were worth $893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% in the second 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 period. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group in the second quarter worth about $26,000. LRI Investments LLC purchased a new position in The PNC Financial Services Group during the 1st quarter valued at about $28,000. Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $33,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 0.1 %

Shares of NYSE PNC opened at $214.72 on Friday. The firm’s 50 day moving average price is $194.07 and its 200-day moving average price is $176.56. The PNC Financial Services Group, Inc. has a 52-week low of $132.11 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $85.20 billion, a PE ratio of 18.15, a P/E/G ratio of 2.25 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating 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 business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $3.60 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Analysts Set New Price Targets

PNC has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays increased their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $189.15.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,546 shares of company stock worth $5,345,530. Company insiders own 0.42% of the company’s stock.

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.