Atlanta Consulting Group Advisors LLC Acquires New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Atlanta Consulting Group Advisors LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,453 shares of the financial services provider's stock, valued at approximately $1,193,000.

Several other hedge funds have also added to or reduced their stakes in PNC. MFA Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after purchasing an additional 55 shares during the period. Resonant Capital Advisors LLC grew its holdings in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock worth $3,148,000 after acquiring an additional 56 shares during the period. Valley Brook Capital Group Inc. raised its position in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider's stock worth $1,969,000 after acquiring an additional 57 shares in the last quarter. Ledyard National Bank boosted its position in shares of The PNC Financial Services Group by 2.8% during the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC grew its stake in The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider's stock worth $411,000 after purchasing an additional 68 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded down $0.28 during midday trading on Friday, reaching $207.68. 2,511,633 shares of the company traded hands, compared to its average volume of 1,895,245. The firm's fifty day moving average price is $188.25 and its two-hundred day moving average price is $172.94. The firm has a market capitalization of $82.40 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly 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 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 54.10%.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price 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. Evercore ISI upped their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Finally, Barclays boosted their price objective on 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and an average target price of $186.96.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares of the company's stock, valued at approximately $101,604,582.17. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now owns 915 shares of the company's stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,546 shares of company stock worth $5,277,493. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Company 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.