PNC Financial Services Group Inc (NYSE:PNC) Shares Purchased by Private Ocean LLC

Private Ocean LLC increased its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 101.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 397 shares of the financial services provider’s stock after acquiring an additional 200 shares during the quarter. Private Ocean LLC’s holdings in PNC Financial Services Group were worth $56,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Westside Investment Management Inc. acquired a new position in shares of PNC Financial Services Group in the 2nd quarter worth approximately $29,000. Liberty Wealth Management LLC lifted its holdings in shares of PNC Financial Services Group by 112.8% in the 3rd quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 123 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of PNC Financial Services Group in the 3rd quarter worth approximately $37,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of PNC Financial Services Group in the 2nd quarter worth approximately $40,000. Finally, Old North State Trust LLC lifted its holdings in shares of PNC Financial Services Group by 108.8% in the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 80.68% of the company’s stock.

In other news, Director Charles E. Bunch acquired 1,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $124.38 per share, with a total value of $124,380.00. Following the transaction, the director now owns 3,781 shares in the company, valued at approximately $470,280.78. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph E. Rockey sold 10,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the completion of the sale, the executive vice president now directly owns 18,453 shares in the company, valued at $2,675,685. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

PNC traded down $0.87 during trading hours on Friday, hitting $152.20. 1,573,036 shares of the company’s stock were exchanged, compared to its average volume of 2,010,443. PNC Financial Services Group Inc has a 12-month low of $108.45 and a 12-month high of $154.75. The firm has a 50 day moving average of $143.35 and a 200 day moving average of $136.47. The firm has a market cap of $67.25 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.10.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the firm earned $2.82 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts expect that PNC Financial Services Group Inc will post 11.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Thursday, October 17th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

Several brokerages have recently commented on PNC. Wells Fargo & Co upped their price objective on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of PNC Financial Services Group from $147.50 to $155.50 and gave the stock an “overweight” rating in a report on Monday, November 4th. Robert W. Baird set a $141.00 target price on shares of PNC Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 26th. Morgan Stanley upped their target price on shares of PNC Financial Services Group from $141.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, UBS Group upped their target price on shares of PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $146.20.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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