GM Advisory Group LLC Buys New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

GM Advisory Group LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,254 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Concurrent Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new position in The PNC Financial Services Group during the third quarter worth $12,548,000. Bleakley Financial Group LLC boosted its position in The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at $822,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of The PNC Financial Services Group in the second quarter valued at about $18,159,000. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PNC. Stephens lifted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. The Goldman Sachs Group decreased 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 report on Wednesday, September 11th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Morgan Stanley upped their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $186.96.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,546 shares of company stock worth $5,317,200. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 2.1 %

PNC stock opened at $210.07 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $127.15 and a 52 week high of $214.19. The business has a 50-day simple moving average of $191.01 and a 200 day simple moving average of $174.58. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $83.35 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.39 billion. During the same period in the previous year, the company earned $3.60 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 16th. 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.