Creative Planning Raises Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Creative Planning raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 75,927 shares of the financial services provider’s stock after purchasing an additional 6,055 shares during the quarter. Creative Planning’s holdings in The PNC Financial Services Group were worth $14,035,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC grew its stake in shares of The PNC Financial Services Group by 1.8% in the first quarter. Park Avenue Securities LLC now owns 11,147 shares of the financial services provider’s stock worth $1,801,000 after purchasing an additional 196 shares during the last quarter. Congress Asset Management Co. MA bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $207,000. AdvisorNet Financial Inc increased its stake in shares of The PNC Financial Services Group by 17.2% during the first quarter. AdvisorNet Financial Inc now owns 6,713 shares of the financial services provider’s stock valued at $1,085,000 after buying an additional 983 shares during the period. Sound Income Strategies LLC raised its holdings in shares of The PNC Financial Services Group by 23.8% during the first quarter. Sound Income Strategies LLC now owns 930 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 179 shares in the last quarter. Finally, Mcdonald Partners LLC lifted its stake in The PNC Financial Services Group by 26.3% in the first quarter. Mcdonald Partners LLC now owns 8,322 shares of the financial services provider’s stock worth $1,345,000 after acquiring an additional 1,732 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 2.0 %

NYSE:PNC opened at $185.64 on Tuesday. The stock has a market cap of $73.87 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.06 and a beta of 1.14. 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 company’s 50 day moving average price is $181.20 and its 200-day moving average price is $167.47. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.60 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Buying and Selling 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, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the transaction, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at $104,052,553.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Michael P. Lyons sold 11,000 shares of the business’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 sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,662 shares of company stock worth $4,459,819. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PNC. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Citigroup increased their price target 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. Evercore ISI lifted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $185.71.

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.