JB Capital LLC Has $14.03 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

JB Capital LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 75,879 shares of the financial services provider’s stock after selling 275 shares during the period. The PNC Financial Services Group accounts for about 0.8% of JB Capital LLC’s investment portfolio, making the stock its 20th biggest holding. JB Capital LLC’s holdings in The PNC Financial Services Group were worth $14,026,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth approximately $12,548,000. Bleakley Financial Group LLC boosted its stake in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $822,000. Equity Investment Corp grew its holdings in shares of The PNC Financial Services Group by 3.4% during the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after acquiring an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP increased its stake in shares of The PNC Financial Services Group by 108.5% in the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after acquiring an additional 10,743 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, 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 transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now owns 543,523 shares in the company, valued at approximately $102,997,608.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,521 shares of company stock valued at $2,653,950 over the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $1.82 during midday trading on Thursday, hitting $203.15. The company had a trading volume of 248,349 shares, compared to its average volume of 1,853,713. The stock has a market cap of $80.61 billion, a PE ratio of 17.33, a P/E/G ratio of 1.98 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 $205.06. The business’s 50 day simple moving average is $184.75 and its two-hundred day simple moving average is $170.42. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick 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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the business earned $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.15%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analysts Set New Price Targets

A number of brokerages have commented on PNC. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted 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 research report on Wednesday, July 17th. Finally, Citigroup raised their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average 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.