The PNC Financial Services Group, Inc $PNC Stock Position Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 14.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,852 shares of the financial services provider’s stock after purchasing an additional 2,714 shares during the quarter. Park Avenue Securities LLC’s holdings in The PNC Financial Services Group were worth $4,857,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PNC. BlackRock Inc. bought a new position in The PNC Financial Services Group in the second quarter valued at approximately $7,921,455,000. State Street Corp increased its position in shares of The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock worth $4,538,929,000 after acquiring an additional 765,097 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $2,102,631,000. Deutsche Bank AG bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The PNC Financial Services Group by 1.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock worth $888,309,000 after acquiring an additional 39,112 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $231.78 on Friday. The company’s fifty day simple moving average is $230.32 and its 200-day simple moving average is $228.82. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The firm has a market cap of $92.47 billion, a PE ratio of 12.34, a P/E/G ratio of 1.18 and a beta of 0.94. The PNC Financial Services Group, Inc has a 12 month low of $177.08 and a 12 month high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.35 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc will post 19.22 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s payout ratio is 42.58%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $269.50 to $258.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Stephens dropped their price target on The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Raymond James Financial cut their price target on The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Finally, Bank of America cut their price target on The PNC Financial Services Group from $291.00 to $276.00 in a report on Thursday, October 8th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.13.

Insider Activity

In other news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.