The PNC Financial Services Group, Inc $PNC Stock Acquired by Moneco Advisors LLC

Moneco Advisors LLC increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 28.9% in the 3rd quarter, Holdings Channel reports. The firm owned 15,752 shares of the financial services provider’s stock after purchasing an additional 3,531 shares during the period. Moneco Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Highland Investment Advisors LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $28,000. Wilkerson Advisory Group LLC raised its holdings in shares of The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Archer Investment Corp purchased a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $33,000. Finally, Dunhill Financial LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $37,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. HSBC increased their price objective on The PNC Financial Services Group from $275.00 to $283.00 and gave the company a “buy” rating in a research note on Monday, September 28th. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of The PNC Financial Services Group from $258.00 to $259.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $266.04.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 0.1%

Shares of PNC opened at $231.06 on Wednesday. The company’s 50-day moving average price is $228.20 and its 200 day moving average price is $229.27. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96. The firm has a market cap of $91.68 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter last year, the firm earned $4.35 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Wednesday, October 14th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.