Jackson Square Capital LLC Invests $4.84 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Jackson Square Capital LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 26,207 shares of the financial services provider’s stock, valued at approximately $4,844,000. The PNC Financial Services Group makes up 1.2% of Jackson Square Capital LLC’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors have also made changes to their positions in PNC. MFA Wealth Advisors LLC grew its stake in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after buying an additional 55 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in The PNC Financial Services Group by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 56 shares during the last quarter. Valley Brook Capital Group Inc. lifted its stake in The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 62 shares during the last quarter. Ledyard National Bank boosted its holdings in shares of The PNC Financial Services Group by 2.8% in the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC increased its stake in shares of The PNC Financial Services Group by 2.6% in the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 68 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $204.97 on Thursday. The company has a market cap of $81.33 billion, a P/E ratio of 17.33, a PEG ratio of 1.98 and a beta of 1.13. 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 business has a 50-day moving average price of $184.75 and a two-hundred day moving average price of $170.42. The PNC Financial Services Group, Inc. has a 1-year low of $118.56 and a 1-year high of $205.06.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS 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 during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $171.80, for a total transaction of $213,375.60. Following the transaction, the chief executive officer now owns 557,185 shares of the company’s stock, valued at $95,724,383. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the transaction, the chief executive officer now owns 557,185 shares in the company, valued at approximately $95,724,383. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,521 shares of company stock worth $2,653,950. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PNC has been the topic of several research analyst reports. UBS Group raised their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays lifted their price target 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. Royal Bank of Canada increased their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note 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 company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.