Mraz Amerine & Associates Inc. Makes New $229,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mraz Amerine & Associates Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,240 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNC. Dakota Wealth Management grew its holdings in The PNC Financial Services Group by 5.5% during the third quarter. Dakota Wealth Management now owns 4,186 shares of the financial services provider’s stock worth $774,000 after acquiring an additional 218 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of The PNC Financial Services Group by 160.9% in 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. Beese Fulmer Investment Management Inc. boosted its holdings in The PNC Financial Services Group by 8.1% during the third quarter. Beese Fulmer Investment Management Inc. now owns 4,285 shares of the financial services provider’s stock worth $792,000 after buying an additional 322 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its holdings in shares of The PNC Financial Services Group by 10.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,941 shares of the financial services provider’s stock valued at $544,000 after buying an additional 270 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of The PNC Financial Services Group by 4.4% during the 3rd quarter. Brighton Jones LLC now owns 3,057 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 129 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group upped their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. UBS Group upped their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Barclays increased their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Citigroup lifted their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Trading Up 0.4 %

NYSE:PNC opened at $188.94 on Friday. 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 company’s 50 day moving average is $181.96 and its 200-day moving average is $167.82. The firm has a market cap of $75.18 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.98 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 released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during 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 was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.60 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.39%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the sale, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the sale, the chief executive officer now owns 558,427 shares in the company, valued at approximately $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,279 shares of company stock valued at $4,395,540. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group 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.