Metis Global Partners LLC Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Metis Global Partners LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% during the third quarter, Holdings Channel.com reports. The fund owned 18,518 shares of the financial services provider’s stock after purchasing an additional 890 shares during the quarter. Metis Global Partners LLC’s holdings in The PNC Financial Services Group were worth $3,423,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $26,000. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group in the second quarter worth $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $38,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at $97,929,359.45. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock worth $5,277,493 in the last ninety days. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PNC. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Trading Down 0.6 %

Shares of The PNC Financial Services Group stock opened at $207.96 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $126.41 and a twelve month high of $214.19. The firm’s 50-day moving average price is $187.09 and its 200 day moving average price is $172.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $82.51 billion, a PE ratio of 17.58, a P/E/G ratio of 2.21 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced 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 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%.

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.