Vise Technologies Inc. Makes New Investment in The PNC Financial Services Group, Inc $PNC

Vise Technologies Inc. purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,631 shares of the financial services provider’s stock, valued at approximately $1,236,000.

Several other hedge funds also recently modified their holdings of the company. Saudi Central Bank bought a new position in The PNC Financial Services Group in the 1st quarter valued at $27,000. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $27,000. Concord Wealth Partners raised its position in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. WPG Advisers LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. UBS Group increased their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $240.00 price target (up from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Raymond James Financial increased their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Bank of America boosted their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, July 17th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Stock Down 0.2%

Shares of PNC opened at $186.53 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $73.15 billion, a PE ratio of 12.07, a P/E/G ratio of 1.26 and a beta of 1.12. The firm’s 50 day moving average is $192.57 and its 200-day moving average is $187.70. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the company posted $3.49 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Insiders Place Their Bets

In other news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,151 shares of company stock worth $400,092. Insiders own 0.41% of the company’s stock.

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.