Cwm LLC Acquires 55,258 Shares of The PNC Financial Services Group, Inc $PNC

Cwm LLC lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 75.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,929 shares of the financial services provider’s stock after acquiring an additional 55,258 shares during the quarter. Cwm LLC’s holdings in The PNC Financial Services Group were worth $25,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Focus Partners Advisor Solutions LLC increased its stake in shares of The PNC Financial Services Group by 28.1% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock worth $5,159,000 after purchasing an additional 6,430 shares during the last quarter. Cullen Capital Management LLC grew its holdings in The PNC Financial Services Group by 3.8% during the second quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock valued at $38,193,000 after purchasing an additional 7,478 shares during the period. Harbour Investments Inc. increased 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 buying an additional 3,013 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in The PNC Financial Services Group in the second quarter worth $573,000. Finally, AQR Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 134.9% in the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after buying an additional 1,917,530 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. UBS Group increased their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Oppenheimer dropped their price target on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Finally, Raymond James Financial lifted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $219.11.

Insider Transactions 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 stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $213.81 on Friday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $214.59. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $83.85 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.20 and a beta of 1.01. The firm’s 50 day simple moving average is $193.23 and its 200 day simple moving average is $193.59.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $3.49 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

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.