Clean Yield Group Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Clean Yield Group lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 421 shares of the financial services provider’s stock after buying an additional 106 shares during the period. Clean Yield Group’s holdings in The PNC Financial Services Group were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the second quarter worth about $26,000. 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 worth $26,000 after buying an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $29,000. Finally, Fortis Group Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 100.0% in 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. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PNC. Royal Bank of Canada raised their price target 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. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group reduced their target price 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. Finally, Morgan Stanley lifted their target price on shares of 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $177.65.

The PNC Financial Services Group Stock Down 0.0 %

The PNC Financial Services Group stock traded down $0.03 during trading on Tuesday, reaching $182.23. The stock had a trading volume of 1,427,644 shares, compared to its average volume of 1,862,391. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $187.78. The business has a 50 day moving average price of $178.13 and a 200 day moving average price of $165.26. 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 stock has a market cap of $72.44 billion, a PE ratio of 15.30, a P/E/G ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm earned $3.36 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group, Inc. will post 13.15 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

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 that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares in the company, valued at approximately $99,315,570.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares in the company, valued at approximately $99,315,570.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction 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 completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,662 shares of company stock worth $4,420,820. 0.42% of the stock is currently owned by insiders.

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.