Empowered Funds LLC Acquires 14,318 Shares of The PNC Financial Services Group, Inc $PNC

Empowered Funds LLC raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 173.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,579 shares of the financial services provider’s stock after acquiring an additional 14,318 shares during the quarter. Empowered Funds LLC’s holdings in The PNC Financial Services Group were worth $4,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PNC. HB Wealth Management LLC increased its holdings in shares of The PNC Financial Services Group by 18.8% in the first quarter. HB Wealth Management LLC now owns 51,133 shares of the financial services provider’s stock worth $8,988,000 after acquiring an additional 8,077 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its position in shares of The PNC Financial Services Group by 28.1% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock valued at $5,159,000 after purchasing an additional 6,430 shares during the period. Brookwood Investment Group LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $343,000. Harbour Investments Inc. raised its holdings in The PNC Financial Services Group by 115.1% during the 2nd quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock worth $1,050,000 after buying an additional 3,013 shares during the period. Finally, National Bank of Canada FI raised its holdings in The PNC Financial Services Group by 157.1% during the 1st quarter. National Bank of Canada FI now owns 868,901 shares of the financial services provider’s stock worth $152,726,000 after buying an additional 530,873 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James Financial boosted their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Oppenheimer lowered their price objective on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Evercore ISI increased their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.00.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $186.85 on Friday. The company’s 50-day moving average is $189.73 and its 200-day moving average is $188.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $73.27 billion, a PE ratio of 12.07, a PEG ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $3.49 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,151 shares of company stock valued at $400,092. Company insiders own 0.41% of the company’s stock.

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.