Premier Fund Managers Ltd Buys Shares of 35,730 The PNC Financial Services Group, Inc. (NYSE:PNC)

Premier Fund Managers Ltd acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 35,730 shares of the financial services provider's stock, valued at approximately $6,541,000.

A number of other large investors also recently modified their holdings of PNC. ORG Partners LLC boosted its stake in shares of 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 acquiring an additional 110 shares during the period. Bank & Trust Co purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $26,000. LRI Investments LLC bought a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Valley Wealth Managers Inc. raised its holdings 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 acquiring an additional 200 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity

In other The PNC Financial Services Group news, 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 transaction of $218,778.30. Following the transaction, the chief executive officer now directly owns 555,943 shares of the company's stock, valued at $97,929,359.45. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the business's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company's stock, valued at $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,535,978 in the last quarter. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC stock traded down $0.48 during midday trading on Wednesday, hitting $204.38. 341,051 shares of the stock traded hands, compared to its average volume of 1,866,583. The stock's fifty day simple moving average is $189.25 and its 200-day simple moving average is $173.78. The firm has a market cap of $81.09 billion, a P/E ratio of 17.32, a PEG ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $127.08 and a 1-year high of $214.19. 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 (NYSE:PNC - Get Free Report) last posted 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 firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations 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 company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 EPS. On average, analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid 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 payout ratio is 54.10%.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. Stephens boosted their target price on shares of 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 boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, October 16th. Bank of America raised 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. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 11th. Finally, Evercore ISI raised their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $186.96.

The PNC Financial Services Group Company 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.