Founders Financial Alliance LLC Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Founders Financial Alliance LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,970 shares of the financial services provider’s stock after acquiring an additional 107 shares during the period. Founders Financial Alliance LLC’s holdings in The PNC Financial Services Group were worth $617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. ORG Partners LLC lifted its stake 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 valued at $26,000 after purchasing an additional 110 shares during the period. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the second quarter worth about $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth about $28,000. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group during the first quarter worth about $29,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.0 %

NYSE:PNC opened at $184.84 on Tuesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $73.55 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The business’s 50-day simple moving average is $178.08 and its 200-day simple moving average is $164.43.

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

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the sale, the chief executive officer now owns 549,733 shares of the company’s stock, valued at $101,007,941.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the sale, the chief executive officer now owns 549,733 shares in the company, valued at $101,007,941.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,465 shares of company stock valued at $4,681,565. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods lifted 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 report on Wednesday, July 17th. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Royal Bank of Canada boosted their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $176.90.

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.