Janney Montgomery Scott LLC Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Janney Montgomery Scott LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 554,383 shares of the financial services provider’s stock after purchasing an additional 10,127 shares during the period. Janney Montgomery Scott LLC owned approximately 0.14% of The PNC Financial Services Group worth $102,478,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PNC. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at $26,000. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group in the 1st quarter worth about $29,000. Finally, Y.D. More Investments Ltd bought a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $33,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $187.15 on Friday. The firm’s fifty day simple moving average is $183.94 and its two-hundred day simple moving average is $169.50. The firm has a market capitalization of $74.39 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.00 and a beta of 1.13. 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, Inc. has a 12-month low of $114.51 and a 12-month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping 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 firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $3.60 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the transaction, the chief executive officer now owns 544,765 shares in the company, valued at approximately $103,652,436.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $190.27, for a total transaction of $236,315.34. Following the completion of the sale, the chief executive officer now owns 544,765 shares of the company’s stock, valued at approximately $103,652,436.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,279 shares of company stock worth $2,418,591 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Citigroup raised their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Wells Fargo & Company increased their price target 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, October 16th. Stephens lifted 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 report on Wednesday, October 16th. Finally, Royal Bank of Canada increased their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.71.

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.