Dakota Wealth Management Purchases 218 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Dakota Wealth Management boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,186 shares of the financial services provider’s stock after acquiring an additional 218 shares during the period. Dakota Wealth Management’s holdings in The PNC Financial Services Group were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors lifted its stake in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after purchasing an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of The PNC Financial Services Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after purchasing an additional 100,993 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 1.7 %

PNC opened at $185.82 on Monday. The stock’s fifty day moving average is $182.56 and its two-hundred day moving average is $168.28. The company has a market capitalization of $73.94 billion, a P/E ratio of 15.60, a PEG ratio of 1.98 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52 week low of $110.79 and a 52 week high of $196.64. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stephens raised their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays increased their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI increased their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $185.71.

Insider Activity

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the sale, the chief executive officer now owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,279 shares of company stock worth $4,395,540. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Company 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.