Opus Capital Group LLC Acquires Shares of 3,150 PNC Financial Services Group Inc (NYSE:PNC)

Opus Capital Group LLC acquired a new stake in shares of PNC Financial Services Group Inc (NYSE:PNC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,150 shares of the financial services provider’s stock, valued at approximately $442,000.

A number of other institutional investors have also recently made changes to their positions in the business. Nuveen Asset Management LLC raised its position in shares of PNC Financial Services Group by 39,296.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,683,480 shares of the financial services provider’s stock worth $642,948,000 after purchasing an additional 4,671,592 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in shares of PNC Financial Services Group by 13,808.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock worth $188,593,000 after purchasing an additional 1,872,373 shares during the last quarter. Putnam Investments LLC raised its position in shares of PNC Financial Services Group by 27,828.9% in the 2nd quarter. Putnam Investments LLC now owns 1,173,295 shares of the financial services provider’s stock worth $161,070,000 after purchasing an additional 1,169,094 shares during the last quarter. Hexavest Inc. purchased a new position in shares of PNC Financial Services Group in the 2nd quarter worth about $53,247,000. Finally, Balyasny Asset Management LLC purchased a new position in shares of PNC Financial Services Group in the 2nd quarter worth about $52,285,000. 80.68% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on PNC shares. JPMorgan Chase & Co. lifted their price target on PNC Financial Services Group from $147.50 to $155.50 and gave the stock an “overweight” rating in a research report on Monday, November 4th. ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Morgan Stanley lifted their price target on PNC Financial Services Group from $141.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Co lifted their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Finally, UBS Group lifted their price target on PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $146.20.

In other PNC Financial Services Group news, Director Charles E. Bunch acquired 1,000 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $124.38 per share, for a total transaction of $124,380.00. Following the acquisition, the director now owns 3,781 shares of the company’s stock, valued at $470,280.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 17,132 shares of PNC Financial Services Group stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $135.11, for a total value of $2,314,704.52. Following the completion of the sale, the chief executive officer now owns 507,979 shares of the company’s stock, valued at $68,633,042.69. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

NYSE PNC traded down $0.87 during trading hours on Friday, hitting $152.20. The company’s stock had a trading volume of 1,573,036 shares, compared to its average volume of 2,010,443. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $154.75. The company’s 50 day simple moving average is $143.35 and its two-hundred day simple moving average is $136.47. The company has a market cap of $67.25 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.88 and a quick ratio of 0.87.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the company earned $2.82 EPS. PNC Financial Services Group’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts predict that PNC Financial Services Group Inc will post 11.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Thursday, October 17th were issued a $1.15 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 annualized dividend and a yield of 3.02%. PNC Financial Services Group’s payout ratio is 42.95%.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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