Safe Harbor Fiduciary LLC Acquires Shares of 11,467 The PNC Financial Services Group, Inc. (NYSE:PNC)

Safe Harbor Fiduciary LLC acquired a new stake 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 Securities and Exchange Commission (SEC). The institutional investor acquired 11,467 shares of the financial services provider's stock, valued at approximately $2,120,000. The PNC Financial Services Group accounts for about 2.0% of Safe Harbor Fiduciary LLC's holdings, making the stock its 14th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider's stock worth $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of The PNC Financial Services Group in the third quarter worth approximately $12,548,000. Bleakley Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider's stock valued at $2,913,000 after acquiring an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $822,000. Finally, Manning & Napier Advisors LLC acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at $18,159,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded up $0.84 during trading hours on Thursday, hitting $208.76. 1,296,284 shares of the company traded hands, compared to its average volume of 1,867,187. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a twelve month low of $139.00 and a twelve month high of $216.26. The firm has a 50-day moving average of $195.60 and a 200 day moving average of $177.70. The stock has a market capitalization of $82.83 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.19 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS 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 firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same period last year, the business earned $3.60 earnings per share. The PNC Financial Services Group's quarterly revenue was up 3.8% compared to the same quarter last year. On average, 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 paid 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 3.07%. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI raised their price objective on 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. 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 report on Friday, November 15th. The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Barclays increased their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Finally, Compass Point cut shares of The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. 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. According to MarketBeat, The PNC Financial Services Group has an average rating of "Hold" and an average price target of $193.96.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the transaction, the chief executive officer now owns 549,733 shares in the company, valued at $101,007,941.42. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,788 shares of company stock valued at $5,613,814. 0.42% of the stock is currently owned by company insiders.

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.