Perigon Wealth Management LLC Buys 334 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Perigon Wealth Management LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 26.3% during the second quarter, Holdings Channel reports. The fund owned 1,602 shares of the financial services provider’s stock after acquiring an additional 334 shares during the period. Perigon Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Versor Investments LP boosted its stake in shares of The PNC Financial Services Group by 29.4% in the 1st quarter. Versor Investments LP now owns 4,012 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 912 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of The PNC Financial Services Group by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 639,098 shares of the financial services provider’s stock valued at $117,882,000 after purchasing an additional 23,879 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in shares of The PNC Financial Services Group by 1.9% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 7,951 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 148 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of The PNC Financial Services Group by 25.3% in the 1st quarter. Stephens Inc. AR now owns 51,133 shares of the financial services provider’s stock valued at $9,431,000 after purchasing an additional 10,320 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of The PNC Financial Services Group by 106.9% in the 1st quarter. Prospera Financial Services Inc now owns 17,155 shares of the financial services provider’s stock valued at $3,165,000 after purchasing an additional 8,862 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 2,833 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total value of $452,316.78. Following the completion of the transaction, the executive vice president now directly owns 20,527 shares of the company’s stock, valued at $3,277,340.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $166.50 on Thursday. The stock has a market capitalization of $67.15 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.47 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $228.14. The company has a 50 day moving average of $157.37 and a 200-day moving average of $160.93. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.17.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 26.96% and a return on equity of 12.45%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $3.75 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 14.43 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, November 5th. Investors of record on Monday, October 17th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, October 14th. This represents a $6.00 annualized dividend and a dividend yield of 3.60%. The PNC Financial Services Group’s dividend payout ratio is presently 45.25%.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating on the stock in a research report on Monday, September 12th. Morgan Stanley cut their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 5th. JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $191.00 to $171.50 in a research report on Tuesday, October 11th. Compass Point cut their price target on shares of The PNC Financial Services Group to $160.00 in a research report on Thursday, October 20th. Finally, The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $162.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $188.56.

The PNC Financial Services Group Company Profile

(Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.

Further Reading

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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