Benjamin Edwards Inc. Has $3.52 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Benjamin Edwards Inc. grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 956.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,043 shares of the financial services provider's stock after acquiring an additional 17,240 shares during the quarter. Benjamin Edwards Inc.'s holdings in The PNC Financial Services Group were worth $3,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% during 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 during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $33,000. Valley Wealth Managers Inc. increased its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after purchasing an additional 200 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $38,000. Finally, Quarry LP increased its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider's stock worth $45,000 after purchasing an additional 170 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PNC shares. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, Bank of America upgraded The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $193.96.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $181.35, for a total value of $225,236.70. Following the sale, the chief executive officer now owns 548,491 shares in the company, valued at approximately $99,468,842.85. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,613,814 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $1.10 during midday trading on Wednesday, reaching $207.91. The stock had a trading volume of 1,458,292 shares, compared to its average volume of 1,870,527. The firm's 50 day moving average price is $195.60 and its 200-day moving average price is $177.70. The company has a market capitalization of $82.50 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.21 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 52 week low of $138.46 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the firm earned $3.60 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

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.