2,200 Shares in PNC Financial Services Group Inc (NYSE:PNC) Acquired by New England Research & Management Inc.

New England Research & Management Inc. bought a new position in PNC Financial Services Group Inc (NYSE:PNC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,200 shares of the financial services provider’s stock, valued at approximately $308,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in PNC Financial Services Group by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 33,790,607 shares of the financial services provider’s stock worth $4,638,776,000 after buying an additional 209,303 shares during the last quarter. Nuveen Asset Management LLC lifted its position in PNC Financial Services Group by 39,296.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,683,480 shares of the financial services provider’s stock worth $642,948,000 after buying an additional 4,671,592 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PNC Financial Services Group by 2.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,073,877 shares of the financial services provider’s stock worth $284,702,000 after buying an additional 43,908 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in PNC Financial Services Group by 13,808.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock worth $188,593,000 after buying an additional 1,872,373 shares during the last quarter. Finally, APG Asset Management N.V. lifted its position in PNC Financial Services Group by 6.0% in the 2nd quarter. APG Asset Management N.V. now owns 1,743,614 shares of the financial services provider’s stock worth $210,189,000 after buying an additional 99,100 shares during the last quarter. Institutional investors own 80.68% of the company’s stock.

In other news, Director Charles E. Bunch purchased 1,000 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $124.38 per share, with a total value of $124,380.00. Following the completion of the purchase, the director now directly owns 3,781 shares in the company, valued at $470,280.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 17,132 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $135.11, for a total value of $2,314,704.52. Following the completion of the sale, the chief executive officer now directly owns 507,979 shares in the company, valued at $68,633,042.69. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Several brokerages have weighed in on PNC. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price objective for the company. in a research report on Tuesday, October 1st. UBS Group boosted their price objective on PNC Financial Services Group from $142.00 to $146.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Wells Fargo & Co boosted their price objective on PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird set a $141.00 price objective on PNC Financial Services Group and gave the company a “buy” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $146.20.

Shares of PNC traded down $0.87 during mid-day trading on Friday, hitting $152.20. 1,573,036 shares of the company’s stock traded hands, compared to its average volume of 2,010,443. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.10. PNC Financial Services Group Inc has a 1 year low of $108.45 and a 1 year high of $154.75. The firm has a market capitalization of $67.25 billion, a P/E ratio of 14.21, a PEG ratio of 1.83 and a beta of 1.14. The business’s 50-day moving average price is $143.35 and its 200-day moving average price is $136.47.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that PNC Financial Services Group Inc will post 11.33 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Thursday, October 17th were paid a $1.15 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 annualized dividend and a yield of 3.02%. PNC Financial Services Group’s payout ratio is 42.95%.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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