Heritage Wealth Management Inc. Buys New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Heritage Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,449 shares of the financial services provider’s stock, valued at approximately $1,166,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the second quarter worth $26,000. ORG Partners LLC raised 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 last quarter. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth $29,000. Finally, Core Wealth Advisors Inc. purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Jefferies Financial Group increased their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Citigroup increased their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $176.90.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold 26,465 shares of company stock valued at $4,681,565 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 2.7 %

PNC stock opened at $179.95 on Wednesday. The firm has a market cap of $71.60 billion, a PE ratio of 15.11, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s fifty day moving average is $178.10 and its 200 day moving average is $164.65. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78.

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, topping analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.36 earnings per share. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

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.