Farmers & Merchants Investments Inc. Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Farmers & Merchants Investments Inc. boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 51.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 421 shares of the financial services provider’s stock after purchasing an additional 143 shares during the period. Farmers & Merchants Investments Inc.’s holdings in The PNC Financial Services Group were worth $78,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC lifted its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $26,000. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $29,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the completion of the sale, the chief executive officer now directly owns 559,669 shares in the company, valued at $97,281,665.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the completion of the sale, the chief executive officer now directly owns 559,669 shares in the company, valued at $97,281,665.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,521 shares of company stock worth $2,634,475 in the last ninety days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $190.31 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $75.73 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The business’s 50-day moving average price is $183.49 and its 200-day moving average price is $168.94. The PNC Financial Services Group, Inc. has a 12 month low of $112.36 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.60 EPS. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PNC shares. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Evercore ISI boosted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Two equities research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $185.71.

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.