Clearstead Advisors LLC Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Clearstead Advisors LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 11.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,595 shares of the financial services provider’s stock after acquiring an additional 382 shares during the quarter. Clearstead Advisors LLC’s holdings in The PNC Financial Services Group were worth $537,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in The PNC Financial Services Group by 138.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 38,671 shares of the financial services provider’s stock worth $5,778,000 after buying an additional 22,440 shares during the last quarter. Ieq Capital LLC boosted its holdings in The PNC Financial Services Group by 49.7% in the 3rd quarter. Ieq Capital LLC now owns 11,914 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 3,954 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in The PNC Financial Services Group by 54.5% in the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 4,376 shares of the financial services provider’s stock worth $654,000 after buying an additional 1,544 shares during the last quarter. Captrust Financial Advisors boosted its holdings in The PNC Financial Services Group by 24.4% in the 2nd quarter. Captrust Financial Advisors now owns 76,130 shares of the financial services provider’s stock worth $12,011,000 after buying an additional 14,940 shares during the last quarter. Finally, Bill Few Associates Inc. boosted its holdings in The PNC Financial Services Group by 80.1% in the 3rd quarter. Bill Few Associates Inc. now owns 7,814 shares of the financial services provider’s stock worth $1,167,000 after buying an additional 3,476 shares during the last quarter. 82.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak bought 6,550 shares of the business’s stock in a transaction on Friday, January 20th. The shares were bought at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the transaction, the chief executive officer now directly owns 482,924 shares in the company, valued at $74,070,883.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William S. Demchak acquired 1,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $129.70 per share, with a total value of $129,700.00. Following the completion of the transaction, the chief executive officer now owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak acquired 6,550 shares of the business’s stock in a transaction dated Friday, January 20th. The shares were bought at an average cost of $153.38 per share, for a total transaction of $1,004,639.00. Following the transaction, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at approximately $74,070,883.12. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Up 0.4 %

PNC opened at $130.53 on Wednesday. The PNC Financial Services Group, Inc. has a one year low of $124.21 and a one year high of $199.43. The stock has a market capitalization of $52.17 billion, a PE ratio of 9.41, a P/E/G ratio of 2.02 and a beta of 1.16. The business’s 50 day moving average price is $157.37 and its 200 day moving average price is $157.59. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The firm had revenue of $5.76 billion during the quarter, compared to analysts’ expectations of $5.71 billion. The PNC Financial Services Group had a net margin of 25.73% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.86 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 14.66 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, February 5th. Shareholders of record on Tuesday, January 17th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, January 13th. The PNC Financial Services Group’s payout ratio is 43.26%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on The PNC Financial Services Group from $178.00 to $163.00 and set an “underweight” rating on the stock in a report on Thursday, January 19th. UBS Group cut The PNC Financial Services Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $190.00 to $176.00 in a report on Tuesday, January 10th. Odeon Capital Group upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 target price on the stock in a report on Tuesday, January 10th. Robert W. Baird lowered their target price on The PNC Financial Services Group from $210.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, January 19th. Finally, Credit Suisse Group lowered their target price on The PNC Financial Services Group from $170.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, January 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $180.36.

The PNC Financial Services Group Profile

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.