Nisa Investment Advisors LLC Boosts Stock Holdings in The PNC Financial Services Group, Inc $PNC

Nisa Investment Advisors LLC lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,091 shares of the financial services provider’s stock after acquiring an additional 4,104 shares during the period. Nisa Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $33,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of The PNC Financial Services Group by 2.7% during the first quarter. Integrated Wealth Concepts LLC now owns 7,355 shares of the financial services provider’s stock valued at $1,293,000 after buying an additional 196 shares during the last quarter. Empowered Funds LLC increased its holdings in The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares in the last quarter. Woodline Partners LP increased its holdings in The PNC Financial Services Group by 40.4% in the 1st quarter. Woodline Partners LP now owns 33,450 shares of the financial services provider’s stock worth $5,880,000 after buying an additional 9,622 shares in the last quarter. Finally, SCS Capital Management LLC purchased a new position in The PNC Financial Services Group in the 1st quarter worth about $1,489,000. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $218.60 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $220.54. The stock has a market cap of $85.73 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.08 and a beta of 0.99. The company’s 50 day moving average is $198.75 and its two-hundred day moving average is $195.93.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.49 EPS. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNC. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. UBS Group raised their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Finally, Raymond James Financial lifted their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $222.06.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.