The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Pullen Investment Management LLC

Pullen Investment Management LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,477 shares of the financial services provider’s stock after purchasing an additional 143 shares during the quarter. The PNC Financial Services Group accounts for approximately 1.4% of Pullen Investment Management LLC’s holdings, making the stock its 19th biggest position. Pullen Investment Management LLC’s holdings in The PNC Financial Services Group were worth $1,937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $26,000. ORG Partners LLC boosted its holdings in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $33,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

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

The PNC Financial Services Group Trading Down 1.7 %

The PNC Financial Services Group stock opened at $185.82 on Friday. The stock has a 50-day moving average price of $182.56 and a 200 day moving average price of $168.19. The PNC Financial Services Group, Inc. has a 52 week low of $110.79 and a 52 week high of $196.64. The stock has a market cap of $73.94 billion, a PE ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14. 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 posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 14.97% and a return on equity of 10.88%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.60 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PNC shares. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Stephens upped 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 research report on Wednesday, October 16th. Finally, UBS Group lifted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $185.71.

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.