Harvest Fund Management Co. Ltd Invests $171,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Harvest Fund Management Co. Ltd bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 926 shares of the financial services provider’s stock, valued at approximately $171,000.

Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of The PNC Financial Services Group by 11.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 48,511 shares of the financial services provider’s stock worth $8,967,000 after buying an additional 5,135 shares in the last quarter. SevenBridge Financial Group LLC lifted its holdings in shares of The PNC Financial Services Group by 6.4% in the 3rd quarter. SevenBridge Financial Group LLC now owns 20,112 shares of the financial services provider’s stock valued at $3,718,000 after acquiring an additional 1,213 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of The PNC Financial Services Group by 7.6% in the 3rd quarter. Larson Financial Group LLC now owns 12,908 shares of the financial services provider’s stock valued at $2,386,000 after acquiring an additional 909 shares during the last quarter. Swedbank AB grew its position in The PNC Financial Services Group by 0.4% in the third quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock worth $39,214,000 after acquiring an additional 855 shares in the last quarter. Finally, Pitcairn Co. increased its stake in The PNC Financial Services Group by 13.0% during the third quarter. Pitcairn Co. now owns 7,237 shares of the financial services provider’s stock worth $1,338,000 after acquiring an additional 830 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.4 %

Shares of NYSE:PNC opened at $215.00 on Thursday. The business’s 50 day moving average is $192.94 and its 200 day moving average is $175.90. The stock has a market cap of $85.31 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $127.83 and a 52-week high of $216.18. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.98%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PNC shares. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Finally, Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $189.15.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock valued at $5,573,027 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

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.