SevenBridge Financial Group LLC Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

SevenBridge Financial Group LLC raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,112 shares of the financial services provider’s stock after buying an additional 1,213 shares during the period. SevenBridge Financial Group LLC’s holdings in The PNC Financial Services Group were worth $3,718,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC grew its position in shares of The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after buying an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $822,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $18,159,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group 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 sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock valued at $5,317,200 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Barclays lifted their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note 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 research report on Wednesday, October 16th. Finally, Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Trading Up 2.1 %

The PNC Financial Services Group stock opened at $210.07 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $127.15 and a 12 month high of $214.19. The company has a market capitalization of $83.35 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The business’s fifty day simple moving average is $191.01 and its two-hundred day simple moving average is $174.71. 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 (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

About The PNC Financial Services Group

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.