Independent Advisor Alliance Has $2.95 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Independent Advisor Alliance grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,955 shares of the financial services provider’s stock after acquiring an additional 454 shares during the period. Independent Advisor Alliance’s holdings in The PNC Financial Services Group were worth $2,949,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PNC. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $26,000. ORG Partners LLC increased its stake in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group during the first quarter worth approximately $28,000. Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. increased its stake in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff sold 859 shares of the business’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 sale, the director now owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,573,027 in the last 90 days. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent research reports. Morgan Stanley increased their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays raised their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.15.

The PNC Financial Services Group Trading Up 1.1 %

Shares of PNC opened at $212.39 on Tuesday. The PNC Financial Services Group, Inc. has a 52-week low of $127.49 and a 52-week high of $214.64. The business’s fifty day moving average is $191.64 and its 200-day moving average is $175.22. 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 firm has a market cap of $84.27 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.20 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.60 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.01%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

The PNC Financial Services Group Profile

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.