MONECO Advisors LLC Takes $2.13 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

MONECO Advisors LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,507 shares of the financial services provider's stock, valued at approximately $2,127,000.

Several other large investors have also added to or reduced their stakes in the business. Bank & Trust Co purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $26,000. ORG Partners LLC lifted its stake in The PNC Financial Services Group by 203.7% in the second 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. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at about $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at about $29,000. Finally, Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group during the second quarter valued at about $33,000. Institutional investors own 83.53% of the company's stock.

Insider Activity

In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company's stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company's stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the sale, the chief executive officer now directly owns 558,427 shares in the company, valued at $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,521 shares of company stock worth $4,631,855 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.0 %

NYSE PNC traded down $1.86 on Tuesday, hitting $187.97. 1,005,768 shares of the stock were exchanged, compared to its average volume of 1,856,048. The company has a 50-day moving average price of $183.15 and a 200-day moving average price of $168.79. The PNC Financial Services Group, Inc. has a fifty-two week low of $111.08 and a fifty-two week high of $196.64. 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 company has a market cap of $74.79 billion, a PE ratio of 15.78, a PEG ratio of 1.98 and a beta of 1.14.

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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.40%. The PNC Financial Services Group's dividend payout ratio is presently 53.74%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PNC shares. Royal Bank of Canada boosted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an "outperform" rating in a research report on Wednesday, July 17th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Stephens raised their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Finally, UBS Group lifted their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a "buy" rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $185.71.

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.