Symphony Financial Ltd. Co. Purchases New Position in The PNC Financial Services Group, Inc $PNC

Symphony Financial Ltd. Co. acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 247,361 shares of the financial services provider’s stock, valued at approximately $46,116,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $27,000. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group during the 2nd quarter worth $27,000. Concord Wealth Partners lifted its holdings in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $36,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at about $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,151 shares of company stock valued at $400,092. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 0.1%

Shares of PNC stock opened at $183.88 on Monday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock’s fifty day moving average price is $191.69 and its two-hundred day moving average price is $188.23. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $72.11 billion, a PE ratio of 11.88, a P/E/G ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the company earned $3.49 EPS. The PNC Financial Services Group’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent research reports. Raymond James Financial boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Evercore ISI boosted their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Morgan Stanley increased their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.47.

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.