Global Retirement Partners LLC Purchases 564 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Global Retirement Partners LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,378 shares of the financial services provider’s stock after acquiring an additional 564 shares during the period. Global Retirement Partners LLC’s holdings in The PNC Financial Services Group were worth $2,473,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Jennison Associates LLC increased its holdings in shares of The PNC Financial Services Group by 38.4% during the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock valued at $169,891,000 after acquiring an additional 291,769 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after purchasing an additional 276,200 shares during the period. Hsbc Holdings PLC lifted its stake in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after buying an additional 254,356 shares during the period. Finally, Legal & General Group Plc grew its stake in 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 buying an additional 223,955 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada increased 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 report on Wednesday, July 17th. Stephens raised their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup upped their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Stock Performance

PNC stock opened at $189.38 on Friday. The company has a 50 day moving average price of $180.83 and a 200 day moving average price of $167.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $196.64. 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 stock has a market capitalization of $75.28 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the business earned $3.60 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.60%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,420 shares of company stock valued at $4,223,131. 0.42% of the stock is owned by company insiders.

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.