Heritage Wealth Management Inc. Buys Shares of 7,449 The PNC Financial Services Group, Inc. (NYSE:PNC)

Heritage Wealth Management Inc. bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,449 shares of the financial services provider’s stock, valued at approximately $1,166,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $26,000. ORG Partners LLC raised its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the period. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Core Wealth Advisors Inc. purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $31,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 2.7 %

Shares of NYSE:PNC opened at $179.95 on Wednesday. The stock has a market cap of $71.60 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.02 and a beta of 1.14. The firm has a fifty day moving average price of $178.10 and a 200 day moving average price of $164.65. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.36 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNC shares. Jefferies Financial Group increased their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. UBS Group increased their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Barclays increased their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Citigroup upped their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two investment 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.com, the company presently has an average rating of “Hold” and a consensus target price of $176.90.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the sale, the chief executive officer now owns 549,733 shares in the company, valued at approximately $101,007,941.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the sale, the chief executive officer now owns 567,041 shares in the company, valued at approximately $89,649,182.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the sale, the chief executive officer now owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,465 shares of company stock worth $4,681,565. Company insiders own 0.42% of the company’s stock.

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.