Heritage Oak Wealth Advisors LLC Takes $320,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Heritage Oak Wealth Advisors LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, Holdings Channel.com reports. The fund purchased 1,730 shares of the financial services provider’s stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Capital International Investors boosted its stake in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after acquiring an additional 78,407 shares in the last quarter. Ameriprise Financial Inc. boosted its position in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Legal & General Group Plc grew its holdings in The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the period. Dimensional Fund Advisors LP increased its position in shares of The PNC Financial Services Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after buying an additional 100,993 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of The PNC Financial Services Group by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after buying an additional 262,654 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $188.94 on Friday. The business has a 50-day simple moving average of $181.96 and a 200-day simple moving average of $167.82. The company has a market cap of $75.18 billion, a PE ratio of 15.86, a P/E/G ratio of 1.98 and a beta of 1.14. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $196.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company 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 net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.60 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared 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 3.39%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Transactions at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated 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 owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the business’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 transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,279 shares of company stock valued at $4,395,540. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PNC. UBS Group boosted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Citigroup lifted their price target on 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. Stephens increased their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group upped their price objective on 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $185.71.

About The PNC Financial Services Group

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.