The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,968 shares of the financial services provider’s stock after buying an additional 1,056 shares during the period. Ballentine Partners LLC’s holdings in The PNC Financial Services Group were worth $1,288,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PNC. Heritage Oak Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $320,000. Mraz Amerine & Associates Inc. bought a new position in The PNC Financial Services Group during the 3rd quarter worth $229,000. Dakota Wealth Management increased its position in The PNC Financial Services Group by 5.5% in the third quarter. Dakota Wealth Management now owns 4,186 shares of the financial services provider’s stock worth $774,000 after buying an additional 218 shares during the period. Assenagon Asset Management S.A. lifted its stake in The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after buying an additional 433,178 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 8.1% during the third quarter. Beese Fulmer Investment Management Inc. now owns 4,285 shares of the financial services provider’s stock valued at $792,000 after acquiring an additional 322 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group 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 transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,279 shares of company stock worth $4,395,540. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group lifted their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $185.81 on Friday. The company has a market capitalization of $73.94 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. 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 stock has a fifty day moving average of $182.30 and a 200-day moving average of $167.97. The PNC Financial Services Group, Inc. has a one year low of $110.79 and a one year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS 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 the consensus estimate 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 PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.60 earnings per share. As a group, equities analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

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.