The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,989 shares of the financial services provider’s stock after acquiring an additional 276 shares during the period. Empirical Finance LLC’s holdings in The PNC Financial Services Group were worth $2,586,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. M&G Plc purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $5,945,000. First Foundation Advisors grew its position in shares of The PNC Financial Services Group by 2.8% in the first quarter. First Foundation Advisors now owns 3,006 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 83 shares during the period. Nicolet Advisory Services LLC increased its stake in shares of The PNC Financial Services Group by 9.5% during the first quarter. Nicolet Advisory Services LLC now owns 3,527 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 306 shares in the last quarter. Intech Investment Management LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at about $292,000. Finally, Spirepoint Private Client LLC acquired a new stake in The PNC Financial Services Group in the 1st quarter worth about $375,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PNC shares. Barclays raised their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped 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. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods raised 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 research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $186.96.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated 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 of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the transaction, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $207.68 on Friday. The firm has a 50-day simple moving average of $188.25 and a two-hundred day simple moving average of $172.80. 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, Inc. has a 1-year low of $127.08 and a 1-year high of $214.19. The stock has a market cap of $82.40 billion, a PE ratio of 17.56, a P/E/G ratio of 2.21 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations 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 revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders 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 dividend yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

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.