The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Ritter Daniher Financial Advisory LLC DE

Ritter Daniher Financial Advisory LLC DE raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 995 shares of the financial services provider’s stock after acquiring an additional 238 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in The PNC Financial Services Group were worth $184,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted 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 report on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $186.96.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,277,493 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

The PNC Financial Services Group stock opened at $207.68 on Friday. The PNC Financial Services Group, Inc. has a 52-week low of $127.08 and a 52-week high of $214.19. 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 firm has a market capitalization of $82.40 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.17 and a beta of 1.13. The firm has a 50-day moving average price of $188.25 and a two-hundred day moving average price of $172.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 EPS. Sell-side analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.