The PNC Financial Services Group, Inc $PNC Shares Bought by Moneco Advisors LLC

Moneco Advisors LLC raised its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 28.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,752 shares of the financial services provider’s stock after acquiring an additional 3,531 shares during the period. Moneco Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,501,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in The PNC Financial Services Group in the second quarter valued at $7,921,455,000. Bank of America Corp DE acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth about $2,102,631,000. Deutsche Bank AG purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $1,054,189,000. Jupiter Topco LLC purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $756,877,000. Finally, Legal & General Group Plc purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $669,168,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Stacy Juchno sold 3,354 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent research reports. Raymond James Financial lowered their target price on The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Bank of America reduced their price target on The PNC Financial Services Group from $291.00 to $276.00 in a research report on Thursday, October 8th. Evercore reduced their price target on The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Barclays boosted their price target on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Tuesday, October 13th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.04.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $231.06 on Wednesday. The PNC Financial Services Group, Inc has a 52 week low of $177.08 and a 52 week high of $258.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $91.68 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The stock’s 50-day moving average price is $228.20 and its 200-day moving average price is $229.27.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The PNC Financial Services Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.35 EPS. As a group, equities analysts expect that The PNC Financial Services Group, Inc will post 19.24 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.58%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.