Good Life Advisors LLC Makes New $639,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Good Life Advisors LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,456 shares of the financial services provider’s stock, valued at approximately $639,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% during the 2nd 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 acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.3 %

PNC opened at $189.38 on Friday. The firm’s fifty day simple moving average is $180.83 and its 200 day simple moving average is $167.13. The stock has a market capitalization of $75.28 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.06 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the firm earned $3.60 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 53.60%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PNC shares. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday. 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. Stephens raised their target price 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. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $185.71.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the sale, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other The PNC Financial Services Group news, 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 value of $211,276.62. Following the completion of the transaction, the chief executive officer now directly owns 558,427 shares in the company, valued at $94,994,016.97. This trade represents a 0.00 % 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, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,420 shares of company stock worth $4,223,131. 0.42% of the stock is owned by insiders.

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.