The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 36.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,703 shares of the financial services provider’s stock after purchasing an additional 1,509 shares during the period. GAMMA Investing LLC’s holdings in The PNC Financial Services Group were worth $1,054,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. ORG Partners LLC grew its stake in 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 worth $26,000 after acquiring an additional 110 shares during the period. LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $29,000. Finally, Fortis Group Advisors LLC grew its stake in The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the transaction, the chief executive officer now owns 562,153 shares in the company, valued at $99,315,570.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock worth $4,420,820 over the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $182.23 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78. The company’s 50-day simple moving average is $178.13 and its 200-day simple moving average is $165.26. The stock has a market capitalization of $72.44 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.36 earnings per share. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.15 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Analyst Ratings Changes

PNC has been the subject of several recent analyst reports. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. UBS Group boosted 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 note on Wednesday, July 17th. Citigroup upped their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $177.65.

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.