Atria Investments Inc Grows Stock Holdings in The PNC Financial Services Group, Inc $PNC

Atria Investments Inc grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,452 shares of the financial services provider’s stock after buying an additional 4,471 shares during the period. Atria Investments Inc’s holdings in The PNC Financial Services Group were worth $12,574,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of The PNC Financial Services Group by 0.7% during the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after buying an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after buying an additional 1,964,157 shares during the period. Ameriprise Financial Inc. increased its stake in shares of The PNC Financial Services Group by 0.5% during the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after buying an additional 24,588 shares during the period. Bank of New York Mellon Corp increased its stake in shares of The PNC Financial Services Group by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after buying an additional 186,249 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after buying an additional 830,440 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PNC shares. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. UBS Group boosted their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Citigroup increased their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley increased their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Finally, Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $218.47.

Insider Activity at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.7%

NYSE PNC opened at $182.23 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The stock has a market cap of $71.76 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.26 and a beta of 1.10. The stock’s fifty day moving average price is $196.32 and its 200-day moving average price is $185.63. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the firm posted $3.49 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

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.