The PNC Financial Services Group, Inc $PNC Stock Holdings Increased by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 14.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 21,852 shares of the financial services provider’s stock after acquiring an additional 2,714 shares during the quarter. Park Avenue Securities LLC’s holdings in The PNC Financial Services Group were worth $4,857,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PNC. Highland Investment Advisors LLC bought a new position in The PNC Financial Services Group in the 2nd quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth approximately $28,000. Archer Investment Corp acquired a new stake in The PNC Financial Services Group during the second quarter worth approximately $33,000. Financial Life Planners acquired a new stake in The PNC Financial Services Group during the first quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC boosted its holdings in shares of The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 71 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. TD Cowen decreased their target price on The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Friday, October 16th. Royal Bank Of Canada dropped their price target on The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Keefe, Bruyette & Woods reduced their price target on The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating for the company in a research note on Friday, October 16th. Stephens reduced their price target on The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Finally, UBS Group decreased their price objective on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.13.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $231.78 on Friday. The firm has a 50 day moving average of $230.32 and a 200-day moving average of $228.82. The PNC Financial Services Group, Inc has a 12 month low of $177.08 and a 12 month high of $258.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $92.47 billion, a PE ratio of 12.34, a PEG ratio of 1.18 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.91 by $0.18. The business had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $4.35 EPS. On average, equities research analysts predict that The PNC Financial Services Group, Inc will post 19.22 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.