DMC Group LLC Acquires 584 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

DMC Group LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 24.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,016 shares of the financial services provider’s stock after purchasing an additional 584 shares during the quarter. DMC Group LLC’s holdings in The PNC Financial Services Group were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PNC. Resonant Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 56 shares during the last quarter. Valley Brook Capital Group Inc. lifted its position in The PNC Financial Services Group by 0.6% in the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 62 shares during the last quarter. Kowal Investment Group LLC boosted its stake in shares of The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 68 shares during the period. Ranch Capital Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 1.0% in the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock worth $1,110,000 after purchasing an additional 69 shares during the last quarter. Finally, Cooper Financial Group grew its holdings in shares of The PNC Financial Services Group by 1.7% in the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PNC shares. Barclays increased their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Stephens upped their price target on 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. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $189.38 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $196.64. The firm’s 50-day simple moving average is $180.83 and its two-hundred day simple moving average is $167.20. The stock has a market cap of $75.28 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results 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 11.33% and a net margin of 15.53%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $3.60 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.60%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.00, for a total transaction of $229,770.00. Following the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $185.00, for a total transaction of $229,770.00. Following the transaction, the chief executive officer now owns 547,249 shares in the company, valued at approximately $101,241,065. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,420 shares of company stock worth $4,223,131 over the last quarter. 0.42% of the stock is currently owned by insiders.

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.