Financial Council LLC Invests $238,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Council LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the third quarter, HoldingsChannel.com reports. The fund acquired 1,286 shares of the financial services provider’s stock, valued at approximately $238,000.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in The PNC Financial Services Group by 12,940.0% during the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after acquiring an additional 532,871 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after purchasing an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after purchasing an additional 276,200 shares during the period. Hsbc Holdings PLC increased its holdings in shares of The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of The PNC Financial Services Group by 5,419.9% in the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 2.1 %

PNC stock opened at $210.07 on Friday. The company has a 50 day moving average price of $191.01 and a two-hundred day moving average price of $174.58. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $83.35 billion, a P/E ratio of 17.76, a PEG ratio of 2.15 and a beta of 1.13. The PNC Financial Services Group, Inc. has a one year low of $127.15 and a one year high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.05%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $208.12, for a total value of $258,485.04. Following the transaction, the chief executive officer now owns 536,249 shares in the company, valued at $111,604,141.88. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,546 shares of company stock valued at $5,317,200. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays upped their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Stephens lifted their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $186.96.

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.