The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Schneider Downs Wealth Management Advisors LP

Schneider Downs Wealth Management Advisors LP boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.9% in the third quarter, Holdings Channel.com reports. The firm owned 4,325 shares of the financial services provider’s stock after acquiring an additional 315 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in The PNC Financial Services Group were worth $799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&G Plc bought a new stake in shares of The PNC Financial Services Group in the first quarter worth $5,945,000. Intech Investment Management LLC bought a new position in shares of The PNC Financial Services Group during the first quarter worth about $292,000. Catalytic Wealth RIA LLC grew its stake in The PNC Financial Services Group by 18.4% in the first quarter. Catalytic Wealth RIA LLC now owns 3,360 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 521 shares in the last quarter. Ironwood Investment Counsel LLC bought a new stake in The PNC Financial Services Group in the first quarter valued at about $202,000. Finally, Penobscot Investment Management Company Inc. raised its stake in The PNC Financial Services Group by 16.3% during the first quarter. Penobscot Investment Management Company Inc. now owns 9,543 shares of the financial services provider’s stock valued at $1,542,000 after buying an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $207.68 on Friday. The stock has a market cap of $82.40 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.17 and a beta of 1.13. 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, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19. The stock’s 50 day moving average price is $188.25 and its 200 day moving average price is $172.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on 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 transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,277,493 over the last ninety days. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PNC shares. Barclays boosted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Stephens raised their target price 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. Finally, Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $186.96.

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.