Continuum Advisory LLC Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Continuum Advisory LLC increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 115.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 864 shares of the financial services provider’s stock after purchasing an additional 463 shares during the quarter. Continuum Advisory LLC’s holdings in The PNC Financial Services Group were worth $160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Loomis Sayles & Co. L P raised its stake in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares during the period. MFA Wealth Advisors LLC raised its position in The PNC Financial Services Group by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 55 shares during the period. Resonant Capital Advisors LLC lifted its stake in The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares in the last quarter. Altman Advisors Inc. boosted its position in shares of The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares during the period. Finally, Valley Brook Capital Group Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% in the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 57 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the 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 sale, the director now owns 915 shares of the company’s stock, 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 29,030 shares of company stock worth $5,873,691 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.6 %

NYSE:PNC opened at $203.26 on Thursday. 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 PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The stock has a market cap of $80.65 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.18 and a beta of 1.15. The stock has a 50-day simple moving average of $197.51 and a 200-day simple moving average of $179.28.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 earnings per share. As a group, 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 business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.15%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analyst Ratings Changes

PNC has been the subject of a number of research analyst reports. Evercore ISI raised their target price on 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. Citigroup raised their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays lifted their price objective on shares of 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. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $198.02.

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.