The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by Novem Group

Novem Group boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,093 shares of the financial services provider’s stock after buying an additional 489 shares during the period. Novem Group’s holdings in The PNC Financial Services Group were worth $3,356,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PNC. Quadrant Capital Group LLC lifted its stake in shares of The PNC Financial Services Group by 0.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock worth $1,288,000 after acquiring an additional 59 shares during the period. True Wealth Design LLC raised its holdings in The PNC Financial Services Group by 41.5% during the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares in the last quarter. Sandy Spring Bank lifted its position in The PNC Financial Services Group by 1.4% in the fourth quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider’s stock valued at $945,000 after purchasing an additional 67 shares during the period. KCM Investment Advisors LLC boosted its holdings in The PNC Financial Services Group by 3.9% in the 4th quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 68 shares in the last quarter. Finally, Spire Wealth Management increased its position in The PNC Financial Services Group by 2.2% during the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 69 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a “buy” rating and a $233.00 price target for the company. Finally, Barclays decreased their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $204.00.

Insider Activity

In other news, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director owned 2,009 shares of the company’s stock, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $166.79, for a total transaction of $207,153.18. Following the completion of the sale, the chief executive officer directly owned 557,363 shares of the company’s stock, valued at $92,962,574.77. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,428 shares of company stock valued at $1,882,322 over the last 90 days. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 1.7%

Shares of NYSE:PNC opened at $195.70 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $77.41 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.62 and a beta of 1.07. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The stock’s fifty day simple moving average is $174.39 and its 200-day simple moving average is $180.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

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.