River Road Asset Management LLC Acquires 1,808 Shares of The PNC Financial Services Group, Inc $PNC

River Road Asset Management LLC grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,245 shares of the financial services provider’s stock after purchasing an additional 1,808 shares during the period. River Road Asset Management LLC’s holdings in The PNC Financial Services Group were worth $19,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Saudi Central Bank acquired a new stake in The PNC Financial Services Group during the first quarter worth approximately $27,000. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $27,000. Concord Wealth Partners lifted its position in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 100 shares during the period. WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter worth $36,000. Finally, FNY Investment Advisers LLC bought a new position in shares of The PNC Financial Services Group in the second quarter worth $37,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James Financial increased their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. UBS Group upped their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company raised their target price on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.00.

Insider Buying and Selling

In other news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9%

NYSE PNC opened at $192.48 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.13. The company has a market cap of $75.48 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The business’s fifty day moving average is $188.26 and its 200 day moving average is $189.63.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 EPS. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

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.