The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Versor Investments LP

Versor Investments LP grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 37.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,300 shares of the financial services provider’s stock after purchasing an additional 900 shares during the period. Versor Investments LP’s holdings in The PNC Financial Services Group were worth $610,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in The PNC Financial Services Group in the second quarter worth about $26,000. ORG Partners LLC boosted 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 purchasing an additional 110 shares in the last quarter. LRI Investments LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $209.27 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $122.75 and a 1 year high of $214.19. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day moving average price is $186.55 and its 200 day moving average price is $171.93. The company has a market capitalization of $83.03 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.23 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm earned $3.60 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PNC. Barclays boosted their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price target 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. Stephens raised their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup lifted their target price 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. Finally, UBS Group increased their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Two 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $185.71.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $171.80, for a total value of $213,375.60. Following the sale, the chief executive officer now owns 557,185 shares of the company’s stock, valued at approximately $95,724,383. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the completion of the sale, the chief executive officer now directly owns 557,185 shares in the company, valued at $95,724,383. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock valued at $5,490,869 in the last three months. 0.42% of the stock is currently owned by company insiders.

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.