The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,204 shares of the financial services provider’s stock after buying an additional 3,711 shares during the quarter. Townsquare Capital LLC’s holdings in The PNC Financial Services Group were worth $3,365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $26,000. ORG Partners LLC raised its holdings in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $28,000. Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $33,000. Finally, Valley Wealth Managers Inc. grew its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PNC shares. 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 report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays upped their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $189.15.

Insider Activity at The PNC Financial Services Group

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 value of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $205.98, for a total value of $255,827.16. Following the sale, the chief executive officer now directly owns 535,007 shares of the company’s stock, valued at approximately $110,200,741.86. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,345,530 over the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $214.72 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $132.11 and a 1-year high of $216.26. The company has a market capitalization of $85.20 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13. The business has a 50 day moving average price of $194.07 and a two-hundred day moving average price of $176.56. 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 (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share 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 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 business posted $3.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal 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 issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.98%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

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.