The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,941 shares of the financial services provider’s stock after purchasing an additional 270 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in The PNC Financial Services Group were worth $544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PNC. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter worth $26,000. ORG Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the period. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $29,000. Finally, Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on PNC shares. Royal Bank of Canada increased their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group raised their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Stephens lifted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup increased their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods upped 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $185.71.

Insider Activity

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, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares in the company, valued at approximately $104,052,553.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,662 shares of company stock worth $4,459,819. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 1.0 %

Shares of PNC opened at $188.21 on Thursday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64. The stock has a market cap of $74.81 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a 50-day moving average price of $181.96 and a two-hundred day moving average price of $167.82. The company has a quick ratio of 0.82, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

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, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 was up 3.8% on a year-over-year basis. During the same period last year, the business earned $3.60 earnings per share. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed 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. This represents a $6.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.