Brooklyn Investment Group Buys 471 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Brooklyn Investment Group grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,185 shares of the financial services provider’s stock after buying an additional 471 shares during the quarter. Brooklyn Investment Group’s holdings in The PNC Financial Services Group were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNC. Loomis Sayles & Co. L P grew its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 50 shares during the last quarter. MFA Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 55 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after acquiring an additional 56 shares in the last quarter. Altman Advisors Inc. raised its holdings in The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its holdings in The PNC Financial Services Group by 0.5% during the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after buying an additional 57 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PNC. Evercore ISI upped their price objective on shares of 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. Stephens upped their price objective 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. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Barclays upped their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $189.15.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. 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 PNC Financial Services Group stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $181.35, for a total transaction of $225,236.70. Following the transaction, the chief executive officer now directly owns 548,491 shares in the company, valued at $99,468,842.85. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock worth $5,573,027 over the last quarter. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $214.26 on Wednesday. The PNC Financial Services Group, Inc. has a 52-week low of $127.49 and a 52-week high of $214.81. The company has a 50-day simple moving average of $192.29 and a 200 day simple moving average of $175.62. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $85.01 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 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 the consensus estimate of $5.39 billion. During the same quarter last year, the company posted $3.60 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given 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 2.99%. The PNC Financial Services Group’s dividend payout ratio 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.