Chicago Partners Investment Group LLC Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Chicago Partners Investment Group LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 23.5% during the third quarter, HoldingsChannel reports. The fund owned 2,470 shares of the financial services provider’s stock after acquiring an additional 470 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in The PNC Financial Services Group were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. MFA Wealth Advisors LLC boosted its position in shares of The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares in the last quarter. Resonant Capital Advisors LLC boosted its position 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 worth $3,148,000 after purchasing an additional 56 shares in the last quarter. Valley Brook Capital Group Inc. boosted its position in shares of The PNC Financial Services Group by 0.6% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 62 shares in the last quarter. Ledyard National Bank boosted its position in shares of The PNC Financial Services Group by 2.8% in the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC boosted its position in shares of The PNC Financial Services Group by 2.6% in the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group 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 owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,521 shares of company stock worth $2,653,950 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $185.95 on Tuesday. The stock has a market cap of $73.92 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The business has a 50-day simple moving average of $184.09 and a 200-day simple moving average of $169.92. 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 PNC Financial Services Group, Inc. has a 52-week low of $118.56 and a 52-week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced 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 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the business earned $3.60 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PNC. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Stephens lifted their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $185.71.

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.