Mirabella Financial Services LLP Purchases 4,035 Shares of The PNC Financial Services Group, Inc $PNC

Mirabella Financial Services LLP increased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 148.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,756 shares of the financial services provider’s stock after buying an additional 4,035 shares during the period. Mirabella Financial Services LLP’s holdings in The PNC Financial Services Group were worth $1,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Quarry LP acquired a new stake in The PNC Financial Services Group in the third quarter valued at approximately $25,000. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $34,000. JPL Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at $37,000. Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at $39,000. Finally, Bayforest Capital Ltd lifted its stake in shares of The PNC Financial Services Group by 237.1% in the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at $127,970,781.12. The trade was a 8.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,186 shares of company stock worth $14,840,973 in the last 90 days. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $202.10 on Friday. The firm has a market capitalization of $81.52 billion, a PE ratio of 12.18, a PEG ratio of 0.90 and a beta of 0.98. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The firm’s fifty day simple moving average is $220.32 and its 200 day simple moving average is $205.17.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the business earned $3.77 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Oppenheimer upped their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.