Versor Investments LP Acquires 900 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Versor Investments LP raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,300 shares of the financial services provider’s stock after acquiring an additional 900 shares during the quarter. Versor Investments LP’s holdings in The PNC Financial Services Group were worth $610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in The PNC Financial Services Group by 8.7% during the first quarter. Empowered Funds LLC now owns 5,322 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 426 shares during the period. Kingsview Wealth Management LLC grew its stake in shares of The PNC Financial Services Group by 3.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 17,955 shares of the financial services provider’s stock valued at $2,902,000 after acquiring an additional 541 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of The PNC Financial Services Group by 1.8% during the 1st quarter. Orion Portfolio Solutions LLC now owns 44,457 shares of the financial services provider’s stock valued at $7,184,000 after acquiring an additional 796 shares during the period. ProVise Management Group LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $203,000. Finally, Great Lakes Retirement Inc. raised its stake in The PNC Financial Services Group by 61.3% during the 1st quarter. Great Lakes Retirement Inc. now owns 7,666 shares of the financial services provider’s stock worth $1,239,000 after acquiring an additional 2,913 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the sale, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,788 shares of company stock valued at $5,490,869. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.8 %

PNC opened at $209.27 on Thursday. The PNC Financial Services Group, Inc. has a 12 month low of $122.75 and a 12 month high of $214.19. 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 stock has a 50-day moving average of $186.55 and a 200 day moving average of $171.93. The firm has a market cap of $83.03 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released 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 firm had revenue of $5.43 billion for 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 for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.06%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays increased their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.71.

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.