Schneider Downs Wealth Management Advisors LP Raises Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Schneider Downs Wealth Management Advisors LP increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Coastline Trust Co purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $104,000. Gouws Capital LLC acquired a new position in The PNC Financial Services Group during the third quarter worth $203,000. Valley Wealth Managers Inc. boosted its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Empowered Funds LLC increased its position in shares of The PNC Financial Services Group by 448.1% in the third quarter. Empowered Funds LLC now owns 33,281 shares of the financial services provider’s stock valued at $6,152,000 after buying an additional 27,209 shares in the last quarter. Finally, Empirical Finance LLC raised its stake in shares of The PNC Financial Services Group by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 13,989 shares of the financial services provider’s stock worth $2,586,000 after buying an additional 276 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’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 transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now directly owns 543,523 shares in the company, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,546 shares of company stock valued at $5,277,493. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $207.68 on Friday. 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 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 PNC Financial Services Group, Inc. has a 1 year low of $127.08 and a 1 year high of $214.19. The firm has a 50 day moving average price of $188.25 and a 200 day moving average price of $172.94.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company posted $3.60 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNC. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their target price on 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. Wells Fargo & Company increased 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. Finally, Barclays boosted their price target on 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 analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $186.96.

About The PNC Financial Services Group

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.