Schear Investment Advisers LLC Buys 1,239 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Schear Investment Advisers LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.5% during the third quarter, Holdings Channel.com reports. The fund owned 9,224 shares of the financial services provider’s stock after acquiring an additional 1,239 shares during the period. The PNC Financial Services Group comprises 1.1% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 29th largest position. Schear Investment Advisers LLC’s holdings in The PNC Financial Services Group were worth $1,705,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $26,000. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $28,000. Valley Wealth Managers Inc. increased its stake in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $33,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were 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. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock worth $5,277,493 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.1 %

Shares of PNC opened at $207.68 on Friday. The company has a market capitalization of $82.40 billion, a PE ratio of 17.56, a PEG ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19. The stock’s 50-day moving average price is $188.25 and its two-hundred day moving average price is $172.94. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating 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 company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.08%. The PNC Financial Services Group’s payout ratio is 54.10%.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI raised their price objective 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. Two investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $186.96.

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.