The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 79.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,670 shares of the financial services provider's stock after purchasing an additional 5,150 shares during the period. First Horizon Advisors Inc.'s holdings in The PNC Financial Services Group were worth $2,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PNC. Commerce Bank increased its position in The PNC Financial Services Group by 16.1% during the 3rd quarter. Commerce Bank now owns 61,320 shares of the financial services provider's stock valued at $11,335,000 after buying an additional 8,494 shares in the last quarter. Prospera Private Wealth LLC raised its holdings in shares of The PNC Financial Services Group by 3.5% during the third quarter. Prospera Private Wealth LLC now owns 5,076 shares of the financial services provider's stock worth $938,000 after purchasing an additional 171 shares during the last quarter. Premier Fund Managers Ltd purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $6,541,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $12,654,000. Finally, Banque Cantonale Vaudoise raised its position in shares of The PNC Financial Services Group by 91.4% in the third quarter. Banque Cantonale Vaudoise now owns 29,284 shares of the financial services provider's stock worth $5,413,000 after acquiring an additional 13,982 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated 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 in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the transaction, the chief executive officer now directly owns 536,249 shares in the company, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,788 shares of company stock worth $5,535,978. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of several research analyst reports. Compass Point cut The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. Evercore ISI increased 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 research note 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 company an "underperform" rating in a report on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, Barclays upped their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an "overweight" rating in a research note 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 company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $186.96.

The PNC Financial Services Group Stock Up 1.4 %

The PNC Financial Services Group stock traded up $2.80 during trading on Thursday, reaching $206.75. 627,990 shares of the company's stock were exchanged, compared to its average volume of 1,866,824. The company's 50-day moving average is $189.79 and its two-hundred day moving average is $173.99. The firm has a market cap of $82.03 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.14 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $127.08 and a 52-week high of $214.19. 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 (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate 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 company's revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. On average, 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 Announces Dividend

The company 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 3.10%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

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.