The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,518 shares of the financial services provider’s stock after purchasing an additional 890 shares during the period. Metis Global Partners LLC’s holdings in The PNC Financial Services Group were worth $3,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in The PNC Financial Services Group by 8.7% during the 1st quarter. Empowered Funds LLC now owns 5,322 shares of the financial services provider’s stock worth $860,000 after buying an additional 426 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of The PNC Financial Services Group by 3.1% in the 1st quarter. Kingsview Wealth Management LLC now owns 17,955 shares of the financial services provider’s stock worth $2,902,000 after acquiring an additional 541 shares during the period. Orion Portfolio Solutions LLC raised its position in The PNC Financial Services Group by 1.8% in the first quarter. Orion Portfolio Solutions LLC now owns 44,457 shares of the financial services provider’s stock worth $7,184,000 after acquiring an additional 796 shares in the last quarter. ProVise Management Group LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth $203,000. Finally, M&G Plc acquired a new position in shares of The PNC Financial Services Group in the first quarter worth $5,945,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the sale, the chief executive officer now directly owns 543,523 shares in the company, valued at approximately $102,997,608.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,546 shares of company stock valued at $5,277,493. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.6 %

PNC opened at $207.96 on Friday. The firm has a market capitalization of $82.51 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.21 and a beta of 1.13. The business has a 50 day simple moving average of $187.09 and a two-hundred day simple moving average of $172.19. The PNC Financial Services Group, Inc. has a one year low of $126.41 and a one year high of $214.19. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted 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 for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.60 EPS. Analysts predict that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Stephens boosted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price on 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 increased their target price on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $185.71.

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.