Atlanta Consulting Group Advisors LLC Purchases New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Atlanta Consulting Group Advisors LLC acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, HoldingsChannel reports. The fund acquired 6,453 shares of the financial services provider’s stock, valued at approximately $1,193,000.

Several other large investors also recently made changes to their positions in the business. MFA Wealth Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after buying an additional 55 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after acquiring an additional 56 shares in the last quarter. Valley Brook Capital Group Inc. raised its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 57 shares during the last quarter. Ledyard National Bank lifted its position in shares of The PNC Financial Services Group by 2.8% in the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC boosted its holdings in The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the sale, the chief executive officer now owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,277,493 over the last three months. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Down 0.1 %

NYSE:PNC opened at $207.68 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $127.08 and a 52 week high of $214.19. The firm’s fifty day moving average is $188.25 and its 200-day moving average is $172.94. The firm has a market cap of $82.40 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.17 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.60 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PNC shares. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Evercore ISI lifted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Stephens upped their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $186.96.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time 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.