2,859 Shares in The PNC Financial Services Group, Inc $PNC Acquired by Falcon Wealth Planning

Falcon Wealth Planning bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,859 shares of the financial services provider’s stock, valued at approximately $574,000.

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

The PNC Financial Services Group Trading Up 0.4%

The PNC Financial Services Group stock opened at $210.37 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $213.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The stock has a market cap of $82.50 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.18 and a beta of 1.01. The company’s fifty day simple moving average is $190.25 and its 200-day simple moving average is $192.44.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same period last year, the company earned $3.49 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Wall Street Analyst Weigh In

A number of research firms have commented on PNC. UBS Group upped their price objective on shares of 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. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Morgan Stanley raised their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Finally, Oppenheimer dropped their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $219.11.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares in the company, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.41% of the company’s stock.

About The PNC Financial Services Group

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.