D.A. Davidson & CO. Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

D.A. Davidson & CO. boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,070 shares of the financial services provider’s stock after purchasing an additional 2,335 shares during the quarter. D.A. Davidson & CO.’s holdings in The PNC Financial Services Group were worth $20,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Private Trust Co. NA boosted its stake in The PNC Financial Services Group by 3.6% in the third quarter. Private Trust Co. NA now owns 9,944 shares of the financial services provider’s stock worth $1,838,000 after buying an additional 341 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings 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 worth $115,000 after acquiring an additional 50 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of The PNC Financial Services Group by 2.9% in the 3rd quarter. Independent Advisor Alliance now owns 15,955 shares of the financial services provider’s stock valued at $2,949,000 after purchasing an additional 454 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at $171,000. Finally, Daiwa Securities Group Inc. raised its position in The PNC Financial Services Group by 11.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 48,511 shares of the financial services provider’s stock worth $8,967,000 after purchasing an additional 5,135 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

PNC opened at $212.39 on Tuesday. 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 company has a market cap of $84.27 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The stock has a fifty day simple moving average of $191.64 and a two-hundred day simple moving average of $175.22. The PNC Financial Services Group, Inc. has a 12-month low of $127.49 and a 12-month high of $214.64.

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 (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the business earned $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.01%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred 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 approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the sale, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,573,027 in the last 90 days. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PNC shares. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Barclays lifted their price target on 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. Keefe, Bruyette & Woods increased their price objective 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 lifted 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 research note on Friday, November 15th. Finally, Stephens increased their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $189.15.

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.