Beese Fulmer Investment Management Inc. Purchases 322 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Beese Fulmer Investment Management Inc. boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,285 shares of the financial services provider’s stock after acquiring an additional 322 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of PNC. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $12,548,000. Bleakley Financial Group LLC grew its holdings in The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Equity Investment Corp lifted its holdings in shares of The PNC Financial Services Group by 3.4% during the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after buying an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP lifted its holdings in shares of The PNC Financial Services Group by 108.5% during the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after buying an additional 10,743 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $188.21 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64. The stock has a market capitalization of $74.81 billion, a PE ratio of 15.91, a PEG ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81. The stock’s fifty day moving average is $181.96 and its 200-day moving average is $167.82.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insiders Place Their Bets

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,662 shares of company stock valued at $4,459,819. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research reports. Stephens boosted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Company 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.