Pacer Advisors Inc. Has $8.29 Million Holdings in The PNC Financial Services Group, Inc $PNC

Pacer Advisors Inc. grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 28.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,270 shares of the financial services provider’s stock after purchasing an additional 9,116 shares during the period. Pacer Advisors Inc.’s holdings in The PNC Financial Services Group were worth $8,292,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PNC. Focus Partners Advisor Solutions LLC grew its stake 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 buying an additional 6,430 shares in the last quarter. Harbour Investments Inc. grew its position in The PNC Financial Services Group by 115.1% in the second quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock worth $1,050,000 after acquiring an additional 3,013 shares in the last quarter. Cullen Capital Management LLC grew its position in The PNC Financial Services Group by 3.8% in the second quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock worth $38,193,000 after acquiring an additional 7,478 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $573,000. Finally, AQR Capital Management LLC raised its holdings in shares of The PNC Financial Services Group by 134.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after purchasing an additional 1,917,530 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNC. Oppenheimer decreased their price objective on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Raymond James Financial increased their price objective 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. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.11.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $213.81 on Monday. The company has a market cap of $83.85 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.20 and a beta of 1.01. The business has a 50 day moving average price of $193.23 and a 200 day moving average price of $193.80. 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 PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $214.59.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.82 billion. During the same period in the previous year, the company earned $3.49 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

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

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group 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.