First Trust Advisors LP Boosts Position in The PNC Financial Services Group, Inc $PNC

First Trust Advisors LP grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 27.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,998,954 shares of the financial services provider’s stock after buying an additional 430,261 shares during the quarter. First Trust Advisors LP owned 0.51% of The PNC Financial Services Group worth $401,650,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Orleans Capital Management Corp LA purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth $992,000. Aptus Capital Advisors LLC raised its stake in shares of The PNC Financial Services Group by 328.8% during the third quarter. Aptus Capital Advisors LLC now owns 156,174 shares of the financial services provider’s stock valued at $31,380,000 after purchasing an additional 119,754 shares during the period. One Wealth Capital Management LLC purchased a new stake in shares of The PNC Financial Services Group during the third quarter valued at approximately $225,000. Barclays PLC lifted its position in shares of The PNC Financial Services Group by 15.2% during the third quarter. Barclays PLC now owns 1,317,867 shares of the financial services provider’s stock worth $264,799,000 after purchasing an additional 174,157 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of The PNC Financial Services Group by 1.2% in the third quarter. Crossmark Global Holdings Inc. now owns 51,447 shares of the financial services provider’s stock valued at $10,337,000 after purchasing an additional 585 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada raised their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Oppenheimer lifted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the sale, the executive vice president directly owned 21,120 shares of the company’s stock, valued at $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares in the company, valued at $127,970,781.12. The trade was a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 over the last ninety days. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Down 2.9%

Shares of NYSE:PNC opened at $206.26 on Friday. The firm has a market cap of $83.20 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.89 and a beta of 0.98. The company has a fifty day simple moving average of $222.17 and a 200 day simple moving average of $205.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.77 EPS. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

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.