CWA Asset Management Group LLC Acquires Shares of 2,756 The PNC Financial Services Group, Inc. (NYSE:PNC)

CWA Asset Management Group LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,756 shares of the financial services provider's stock, valued at approximately $509,000.

A number of other hedge funds have also added to or reduced their stakes in PNC. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the second quarter valued at about $26,000. ORG Partners LLC grew its position in shares of 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 buying an additional 110 shares during the period. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $28,000. Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the second quarter valued at $33,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PNC. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Morgan Stanley raised their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and an average price target of $185.71.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. 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 accessible through this hyperlink. In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,279 shares of company stock valued at $2,442,673 in the last 90 days. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.6 %

Shares of NYSE:PNC traded up $1.33 during mid-day trading on Tuesday, reaching $211.04. 2,156,092 shares of the stock were exchanged, compared to its average volume of 1,874,316. The company has a market cap of $83.74 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.16 and a beta of 1.13. The PNC Financial Services Group, Inc. has a one year low of $118.89 and a one year high of $211.40. The stock's 50 day simple moving average is $186.02 and its 200-day simple moving average is $171.55. 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 (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same period last year, the firm posted $3.60 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.03%. The PNC Financial Services Group's payout ratio is currently 54.10%.

About The PNC Financial Services Group

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.