LRI Investments LLC Buys 2,699 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LRI Investments LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 171.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,270 shares of the financial services provider's stock after buying an additional 2,699 shares during the period. LRI Investments LLC's holdings in The PNC Financial Services Group were worth $789,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Ameriprise Financial Inc. lifted its position in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider's stock valued at $746,772,000 after purchasing an additional 18,397 shares during the last quarter. Legal & General Group Plc grew its stake in The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider's stock worth $544,335,000 after buying an additional 223,955 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of The PNC Financial Services Group by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider's stock worth $545,380,000 after buying an additional 42,887 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider's stock worth $451,052,000 after buying an additional 6,438 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 2.0 %

NYSE:PNC traded down $4.14 during mid-day trading on Monday, reaching $204.49. 1,598,648 shares of the company's stock traded hands, compared to its average volume of 1,867,109. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. 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 company has a 50 day moving average price of $196.62 and a 200-day moving average price of $178.56. The firm has a market capitalization of $81.14 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.18 and a beta of 1.15.

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 EPS for the quarter, beating analysts' consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.60 earnings per share. On average, sell-side analysts predict 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 business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PNC shares. Morgan Stanley upped their target price on shares of 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. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday. Wells Fargo & Company upped 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. Finally, Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $195.84.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the transaction, the chief executive officer now owns 532,523 shares of the company's stock, valued at approximately $111,425,112.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock valued at $5,873,691 over the last three months. Corporate insiders own 0.42% of the company's stock.

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.