Cerity Partners LLC Buys 33,540 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cerity Partners LLC lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 38.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,379 shares of the financial services provider’s stock after purchasing an additional 33,540 shares during the period. Cerity Partners LLC’s holdings in The PNC Financial Services Group were worth $22,437,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PNC. ORG Partners LLC boosted its position in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $26,000. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $28,000. Valley Wealth Managers Inc. lifted its position in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Finally, Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $33,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred 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 $8,119,768.41. The trade was a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the transaction, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock valued at $5,317,200 over the last ninety days. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Keefe, Bruyette & Woods increased their target price on 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. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley raised their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $186.96.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $210.07 on Monday. The stock’s fifty day moving average is $191.01 and its 200 day moving average is $174.83. The PNC Financial Services Group, Inc. has a one year low of $127.15 and a one year high of $214.19. 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 cap of $83.35 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.20 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (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 company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the company posted $3.60 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.05%. The PNC Financial Services Group’s payout ratio is presently 54.10%.

About The PNC Financial Services Group

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.