Stephens Inc. AR Buys 7,983 Shares of PNC Financial Services Group Inc (NYSE:PNC)

Stephens Inc. AR raised its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 23.2% in the 3rd quarter, Holdings Channel reports. The firm owned 42,349 shares of the financial services provider’s stock after purchasing an additional 7,983 shares during the quarter. Stephens Inc. AR’s holdings in PNC Financial Services Group were worth $5,936,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Westside Investment Management Inc. acquired a new stake in PNC Financial Services Group during the 2nd quarter worth about $29,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of PNC Financial Services Group in the 2nd quarter valued at about $40,000. Old North State Trust LLC grew its stake in shares of PNC Financial Services Group by 108.8% in the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after buying an additional 160 shares during the period. Smith Asset Management Group LP grew its stake in shares of PNC Financial Services Group by 508.5% in the 2nd quarter. Smith Asset Management Group LP now owns 359 shares of the financial services provider’s stock valued at $49,000 after buying an additional 300 shares during the period. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of PNC Financial Services Group in the 2nd quarter valued at about $55,000. 80.82% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on the company. Zacks Investment Research downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 target price for the company. in a research note on Tuesday, October 1st. Robert W. Baird set a $141.00 target price on PNC Financial Services Group and gave the company a “buy” rating in a research note on Monday, August 26th. Morgan Stanley set a $141.00 target price on PNC Financial Services Group and gave the company a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Co raised their target price on PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $143.74.

PNC stock opened at $145.53 on Tuesday. The company has a market capitalization of $63.90 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.89. PNC Financial Services Group Inc has a 52-week low of $108.45 and a 52-week high of $146.39. The business has a 50-day simple moving average of $138.49 and a two-hundred day simple moving average of $134.84.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.14. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 EPS. As a group, sell-side analysts forecast that PNC Financial Services Group Inc will post 11.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Thursday, October 17th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $4.60 dividend on an annualized basis and a yield of 3.16%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.95%.

In related news, Director Charles E. Bunch purchased 1,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $124.38 per share, for a total transaction of $124,380.00. Following the purchase, the director now owns 3,781 shares of the company’s stock, valued at $470,280.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 17,132 shares of PNC Financial Services Group stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $135.11, for a total value of $2,314,704.52. Following the transaction, the chief executive officer now owns 507,979 shares of the company’s stock, valued at approximately $68,633,042.69. The disclosure for this sale can be found here. Insiders have sold a total of 54,089 shares of company stock valued at $7,547,343 in the last quarter. Company insiders own 0.37% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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