MBB Public Markets I LLC Has $4.48 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

MBB Public Markets I LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1,332.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,842 shares of the financial services provider’s stock after purchasing an additional 26,829 shares during the quarter. MBB Public Markets I LLC’s holdings in The PNC Financial Services Group were worth $4,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Gilbert & Cook Inc. lifted its position in shares of The PNC Financial Services Group by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 107 shares during the period. Gryphon Financial Partners LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $228,000. Steward Partners Investment Advisory LLC lifted its holdings in The PNC Financial Services Group by 9.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,364 shares of the financial services provider’s stock worth $1,140,000 after buying an additional 645 shares during the period. TD Asset Management Inc grew its position in shares of The PNC Financial Services Group by 6.0% in the 4th quarter. TD Asset Management Inc now owns 172,924 shares of the financial services provider’s stock valued at $26,777,000 after buying an additional 9,839 shares during the last quarter. Finally, Avestar Capital LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $366,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PNC. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company increased their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $176.90.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $183.11 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78. The stock’s 50 day moving average is $177.92 and its 200-day moving average is $164.00. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $72.86 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.03 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.36 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a dividend of $1.60 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated 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 directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the completion of the sale, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,223 shares of company stock valued at $4,453,360. Corporate insiders own 0.42% of the company’s stock.

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.