Exchange Traded Concepts LLC Purchases Shares of 380 The PNC Financial Services Group, Inc. (NYSE:PNC)

Exchange Traded Concepts LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 380 shares of the financial services provider’s stock, valued at approximately $70,000.

Other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co bought a new position in The PNC Financial Services Group in the second quarter valued at approximately $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 valued at $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $29,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $33,000. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

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 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 transaction, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on 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 sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,662 shares of company stock valued at $4,459,819 in the last three months. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PNC shares. Jefferies Financial Group lifted their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Stephens boosted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut 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 report on Wednesday, September 11th. Finally, 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. Two equities research 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Stock Up 1.0 %

The PNC Financial Services Group stock opened at $188.21 on Thursday. The firm has a market cap of $74.81 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $196.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81. The firm has a 50 day moving average price of $181.96 and a two-hundred day moving average price of $167.82.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $3.60 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

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.