Ted Buchan & Co Invests $1.15 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ted Buchan & Co acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,403 shares of the financial services provider’s stock, valued at approximately $1,151,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EP Wealth Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 11.9% in the second quarter. EP Wealth Advisors LLC now owns 3,725 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 395 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of The PNC Financial Services Group by 10.0% in the second quarter. Brandes Investment Partners LP now owns 901,415 shares of the financial services provider’s stock valued at $139,954,000 after acquiring an additional 81,841 shares in the last quarter. Quarry LP grew its holdings in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 170 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of The PNC Financial Services Group by 9.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 39,397 shares of the financial services provider’s stock valued at $6,125,000 after acquiring an additional 3,240 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 31.0% in the second quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider’s stock valued at $5,099,000 after acquiring an additional 7,765 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

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 that occurred on 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 sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,465 shares of company stock valued at $4,681,565. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley increased their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Barclays increased their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Evercore ISI increased their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report 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’s stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $176.90.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $184.84 on Tuesday. The stock’s 50 day simple moving average is $178.08 and its two-hundred day simple moving average is $164.43. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $73.55 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.36 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current fiscal year.

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.