2,600 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Morse Asset Management Inc

Morse Asset Management Inc bought 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 Securities & Exchange Commission. The firm bought 2,600 shares of the financial services provider's stock, valued at approximately $481,000.

Several other hedge funds have also modified their holdings of the stock. Loomis Sayles & Co. L P boosted its position in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock valued at $115,000 after buying an additional 50 shares during the last quarter. MFA Wealth Advisors LLC boosted its holdings in The PNC Financial Services Group by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock valued at $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in The PNC Financial Services Group by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock valued at $3,148,000 after purchasing an additional 56 shares during the last quarter. Altman Advisors Inc. grew its stake in The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock valued at $1,942,000 after purchasing an additional 56 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in The PNC Financial Services Group by 0.5% during 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 purchasing an additional 57 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $1.07 during trading on Thursday, reaching $202.31. The company had a trading volume of 1,611,246 shares, compared to its average volume of 1,866,572. The firm has a market capitalization of $80.27 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The firm's fifty day moving average is $197.98 and its 200 day moving average is $179.45.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its 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 business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders 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 annualized dividend and a yield of 3.16%. The PNC Financial Services Group's payout ratio is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares of the company's stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the 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 completion of the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,030 shares of company stock valued at $5,873,691. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PNC. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Stephens raised their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $198.02.

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.