Farmers & Merchants Investments Inc. Grows Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Farmers & Merchants Investments Inc. grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 51.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 421 shares of the financial services provider’s stock after acquiring an additional 143 shares during the period. Farmers & Merchants Investments Inc.’s holdings in The PNC Financial Services Group were worth $78,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 55 shares during the period. Resonant Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after purchasing an additional 56 shares during the period. Valley Brook Capital Group Inc. lifted its stake in shares of The PNC Financial Services Group by 0.6% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 62 shares during the period. Ledyard National Bank lifted its stake 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 during the period. Finally, Kowal Investment Group LLC lifted 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 period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 25th. The stock was sold at an average price of $190.27, for a total transaction of $236,315.34. Following the transaction, the chief executive officer now directly owns 544,765 shares in the company, valued at approximately $103,652,436.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $190.27, for a total value of $236,315.34. Following the completion of the transaction, the chief executive officer now owns 544,765 shares in the company, valued at $103,652,436.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,521 shares of company stock worth $2,634,475 in the last ninety days. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada raised their target price on 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. Keefe, Bruyette & Woods raised 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 report on Wednesday, October 16th. Barclays raised their price objective 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. 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 research report on Thursday, August 15th. 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 research report on Wednesday, October 16th. Two research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Stock Performance

PNC stock opened at $190.31 on Thursday. The company has a market cap of $75.73 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 1 year low of $112.36 and a 1 year high of $196.64. 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 stock’s fifty day moving average price is $183.49 and its 200-day moving average price is $168.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.36%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

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.