Waldron Private Wealth LLC Has $527,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Waldron Private Wealth LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,850 shares of the financial services provider’s stock after purchasing an additional 247 shares during the period. Waldron Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Eastern Bank increased its holdings in shares of The PNC Financial Services Group by 1,884.1% during the third quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock worth $45,993,000 after purchasing an additional 236,272 shares during the period. Warner Financial Inc. bought a new position in The PNC Financial Services Group in the third quarter valued at approximately $207,000. Signaturefd LLC increased its stake in The PNC Financial Services Group by 2.2% in the third quarter. Signaturefd LLC now owns 7,068 shares of the financial services provider’s stock valued at $1,307,000 after acquiring an additional 155 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in The PNC Financial Services Group by 49.0% in the third quarter. Sequoia Financial Advisors LLC now owns 13,519 shares of the financial services provider’s stock valued at $2,499,000 after acquiring an additional 4,446 shares during the last quarter. Finally, Home Federal Bank of Tennessee bought a new position in The PNC Financial Services Group in the third quarter valued at approximately $238,000. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated 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 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,662 shares of company stock valued at $4,459,819. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $186.28 on Wednesday. The firm’s 50 day moving average is $181.56 and its 200 day moving average is $167.68. The company has a current ratio of 0.81, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $74.05 billion, a P/E ratio of 15.75, a PEG ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results 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 firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.60 EPS. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PNC. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Morgan Stanley boosted 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 report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. 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’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average 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.