MLP3 LLC Takes $545,000 Position in The PNC Financial Services Group, Inc $PNC

MLP3 LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,610 shares of the financial services provider’s stock, valued at approximately $545,000.

Other institutional investors have also modified their holdings of the company. Quarry LP bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Modus Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $29,000. Beacon Financial Strategies CORP bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $35,000. JPL Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $37,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $39,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PNC shares. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Finally, Bank of America lifted their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $243.11.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. The trade was a 36.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 0.1%

Shares of The PNC Financial Services Group stock opened at $237.51 on Monday. The business’s 50 day simple moving average is $220.85 and its 200 day simple moving average is $216.30. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94. The firm has a market cap of $95.38 billion, a PE ratio of 13.80, a P/E/G ratio of 0.99 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.51 EPS. On average, analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group’s payout ratio is 39.51%.

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.