The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 86.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 473 shares of the financial services provider’s stock after acquiring an additional 219 shares during the quarter. Versant Capital Management Inc’s holdings in The PNC Financial Services Group were worth $91,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth about $33,000. Valley Wealth Managers Inc. increased its stake in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Quarry LP raised its holdings in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after buying an additional 170 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after buying an additional 220 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens raised their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Barclays increased their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $200.81.

Insider Activity at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at $115,298,577.65. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,030 shares of company stock valued at $5,916,453. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $195.63 on Friday. The stock has a market capitalization of $77.62 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The firm has a fifty day simple moving average of $200.97 and a 200 day simple moving average of $184.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company earned $3.60 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.27%. The PNC Financial Services Group’s payout ratio is presently 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.