MQS Management LLC Makes New $890,000 Investment in The PNC Financial Services Group, Inc $PNC

MQS Management LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,279 shares of the financial services provider’s stock, valued at approximately $890,000. The PNC Financial Services Group accounts for about 0.6% of MQS Management LLC’s holdings, making the stock its 14th biggest holding.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC lifted its stake in shares of The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after buying an additional 170 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of The PNC Financial Services Group by 1.5% during the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after buying an additional 2,808 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth about $482,000. 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 analyst reports. Citigroup upped their target price on shares of The PNC Financial Services Group from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday. Stephens initiated coverage on shares of The PNC Financial Services Group in a research note on Monday, June 15th. They issued an “overweight” rating and a $265.00 target price for the company. Oppenheimer increased their target price on shares of The PNC Financial Services Group from $268.00 to $271.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America raised their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.56.

The PNC Financial Services Group Price Performance

PNC opened at $246.06 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $98.81 billion, a P/E ratio of 14.30, a PEG ratio of 1.01 and a beta of 0.92. The stock has a 50-day moving average price of $225.49 and a 200-day moving average price of $219.86. The PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $249.01.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the business earned $3.51 EPS. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.