Eagle Global Advisors LLC Buys New Stake in The PNC Financial Services Group, Inc $PNC

Eagle Global Advisors LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 46,150 shares of the financial services provider’s stock, valued at approximately $9,273,000.

A number of other hedge funds also recently bought and sold shares of PNC. IMG Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group in the second quarter worth about $27,000. Concord Wealth Partners increased its position in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the period. FNY Investment Advisers LLC bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $37,000. Bayforest Capital Ltd lifted its holdings in shares of The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 204 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the 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 completion of the sale, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group 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 transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $212.07 on Thursday. The firm has a market capitalization of $83.16 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.91 and a beta of 0.99. 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 12-month low of $145.12 and a 12-month high of $220.54. The firm has a 50-day moving average price of $201.26 and a 200 day moving average price of $196.88.

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

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 43.93%.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. TD Cowen boosted their price objective on shares of The PNC Financial Services Group from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Finally, UBS Group upped their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $222.06.

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.