Valeo Financial Advisors LLC purchased a new stake in PNC Financial Services Group Inc (NYSE:PNC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,894 shares of the financial services provider’s stock, valued at approximately $255,000.

A number of other hedge funds have also modified their holdings of PNC. FMR LLC raised its holdings in shares of PNC Financial Services Group by 13.9% in the 2nd quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock valued at $1,957,539,000 after purchasing an additional 1,915,923 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of PNC Financial Services Group by 240.4% in the 2nd quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock valued at $298,281,000 after purchasing an additional 1,686,944 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of PNC Financial Services Group by 2,624.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock valued at $213,239,000 after purchasing an additional 1,645,007 shares in the last quarter. Koch Industries Inc. raised its holdings in shares of PNC Financial Services Group by 78,828.1% in the 2nd quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 1,348,748 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of PNC Financial Services Group by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after purchasing an additional 875,164 shares in the last quarter. 81.57% of the stock is owned by institutional investors.

Shares of PNC Financial Services Group Inc (NYSE PNC) traded up $2.56 during trading hours on Wednesday, reaching $145.85. 2,145,100 shares of the company traded hands, compared to its average volume of 2,191,382. PNC Financial Services Group Inc has a 12-month low of $112.61 and a 12-month high of $146.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $68,177.53, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.91 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the business earned $1.84 EPS. PNC Financial Services Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. research analysts anticipate that PNC Financial Services Group Inc will post 8.44 EPS for the current fiscal year.

A number of brokerages have recently weighed in on PNC. Piper Jaffray Companies restated a “buy” rating and issued a $151.00 price objective on shares of PNC Financial Services Group in a report on Monday, December 4th. J P Morgan Chase & Co raised their price objective on shares of PNC Financial Services Group from $139.50 to $140.50 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Tuesday, October 31st. Nomura raised their price objective on shares of PNC Financial Services Group from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Finally, Wells Fargo & Company set a $135.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Thursday, October 19th. Sixteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $136.13.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total value of $675,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider E William Parsley III sold 25,000 shares of PNC Financial Services Group stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total transaction of $3,467,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 88,947 shares of company stock worth $12,543,665 over the last quarter. 0.43% of the stock is owned by company insiders.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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