The PNC Financial Services Group, Inc $PNC Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,249 shares of the financial services provider’s stock after acquiring an additional 671 shares during the period. New York Life Investment Management LLC’s holdings in The PNC Financial Services Group were worth $11,045,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Howard Capital Management Inc. lifted its stake in The PNC Financial Services Group by 11.7% during the 2nd quarter. Howard Capital Management Inc. now owns 2,582 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 270 shares in the last quarter. Purkiss Capital Advisors LLC lifted its stake in The PNC Financial Services Group by 54.8% during the 2nd quarter. Purkiss Capital Advisors LLC now owns 3,902 shares of the financial services provider’s stock worth $728,000 after acquiring an additional 1,381 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in The PNC Financial Services Group by 23.3% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 61,883 shares of the financial services provider’s stock worth $11,536,000 after acquiring an additional 11,700 shares in the last quarter. Advisory Alpha LLC acquired a new position in The PNC Financial Services Group during the 2nd quarter worth about $336,000. Finally, SYM FINANCIAL Corp acquired a new position in The PNC Financial Services Group during the 2nd quarter worth about $626,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PNC shares. Raymond James Financial increased their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Oppenheimer restated an “outperform” rating and set a $240.00 price target (up previously from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Evercore ISI upped their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Trading Down 1.0%

PNC opened at $183.09 on Wednesday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a market cap of $72.10 billion, a P/E ratio of 11.83, a PEG ratio of 1.29 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $196.84 and its 200-day simple moving average is $185.45.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the prior year, the business posted $3.49 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.