MLP3 LLC Buys New Position in The PNC Financial Services Group, Inc $PNC

MLP3 LLC acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,621 shares of the financial services provider’s stock, valued at approximately $582,000.

Several other large investors have also recently bought and sold shares of the stock. Highland Investment Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at about $28,000. Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $31,000. Wilkerson Advisory Group LLC lifted its stake in shares of The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares during the period. Finally, NBT Bank N A NY lifted its stake in shares of The PNC Financial Services Group by 96.3% in the first quarter. NBT Bank N A NY now owns 157 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. Bank of America cut their price target on The PNC Financial Services Group from $291.00 to $276.00 in a report on Thursday, October 8th. Royal Bank Of Canada decreased their price objective on The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Morgan Stanley cut their target price on The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Tuesday, October 13th. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.13.

The PNC Financial Services Group Price Performance

NYSE:PNC traded down $1.04 during mid-day trading on Friday, hitting $224.49. The company’s stock had a trading volume of 1,431,452 shares, compared to its average volume of 2,170,116. The company has a market capitalization of $89.56 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.17 and a beta of 0.94. 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 PNC Financial Services Group, Inc has a fifty-two week low of $177.08 and a fifty-two week high of $258.96. The stock has a fifty day moving average of $232.07 and a 200-day moving average of $233.54.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same period in the previous year, the business earned $4.35 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.6%. The PNC Financial Services Group’s payout ratio is currently 42.58%.

About The PNC Financial Services Group

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.