The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Axiom Advisory LLC

Axiom Advisory LLC boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,712 shares of the financial services provider’s stock after acquiring an additional 298 shares during the quarter. Axiom Advisory LLC’s holdings in The PNC Financial Services Group were worth $651,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. ORG Partners LLC raised its stake in shares of The PNC Financial Services Group by 203.7% during 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 in the last quarter. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $26,000. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $29,000. Finally, Fortis Group Advisors LLC raised its holdings in 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 purchasing an additional 100 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Jefferies Financial Group boosted 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 research report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada raised their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $177.65.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $180.82 on Wednesday. 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 firm has a market capitalization of $71.95 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The company has a 50 day simple moving average of $178.16 and a 200-day simple moving average of $165.43. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week 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 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 prior year, the firm earned $3.36 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.15 earnings per share 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. Investors of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.54%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

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.