CreativeOne Wealth LLC Purchases 2,110 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

CreativeOne Wealth LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 81.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,708 shares of the financial services provider’s stock after buying an additional 2,110 shares during the quarter. CreativeOne Wealth LLC’s holdings in The PNC Financial Services Group were worth $870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC grew its position in shares of The PNC Financial Services Group by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 18,204 shares of the financial services provider’s stock worth $3,365,000 after buying an additional 3,711 shares during the period. Baldwin Investment Management LLC grew its holdings in The PNC Financial Services Group by 4.1% during the 3rd quarter. Baldwin Investment Management LLC now owns 4,403 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 175 shares during the period. Cadence Bank raised its position in shares of The PNC Financial Services Group by 3.9% during the 3rd quarter. Cadence Bank now owns 5,057 shares of the financial services provider’s stock valued at $935,000 after acquiring an additional 188 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its stake in shares of The PNC Financial Services Group by 8.8% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 6,908 shares of the financial services provider’s stock valued at $1,277,000 after purchasing an additional 560 shares during the period. Finally, Avestar Capital LLC boosted its position in shares of The PNC Financial Services Group by 6.0% in the 3rd quarter. Avestar Capital LLC now owns 2,279 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 128 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the transaction, the chief executive officer now directly owns 549,733 shares in the company, valued at $101,007,941.42. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,345,530 in the last quarter. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PNC. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI boosted 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 report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Finally, Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.15.

The PNC Financial Services Group Stock Down 0.1 %

PNC stock opened at $214.72 on Friday. The business has a 50-day moving average of $194.07 and a 200-day moving average of $176.68. The PNC Financial Services Group, Inc. has a fifty-two week low of $132.11 and a fifty-two week high of $216.26. The stock has a market capitalization of $85.20 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.25 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 (NYSE:PNC) last issued its quarterly 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 company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $3.60 EPS. On average, sell-side 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 declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

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.