RKL Wealth Management LLC Purchases 490 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

RKL Wealth Management LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,959 shares of the financial services provider’s stock after acquiring an additional 490 shares during the quarter. RKL Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PNC. Bank & Trust Co bought a new position in The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC increased its stake in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC bought a new position in The PNC Financial Services Group in the first quarter valued at $28,000. Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group in the second quarter valued at $33,000. Finally, GPS Wealth Strategies Group LLC bought a new position in The PNC Financial Services Group in the second quarter valued at $38,000. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm’s 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 sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the transaction, the chief executive officer now directly owns 557,185 shares in the company, valued at approximately $95,724,383. This trade represents 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 accessible through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. The trade was 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 $2,442,673 over the last three months. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Royal Bank of Canada raised their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $203.97 on Friday. 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 firm has a 50-day moving average of $185.53 and a 200-day moving average of $170.98. The firm has a market cap of $80.93 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $118.56 and a 1-year high of $205.20.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business posted $3.60 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.14%. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.