Sanders Morris Harris LLC Takes Position in The PNC Financial Services Group, Inc $PNC

Sanders Morris Harris LLC acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,920 shares of the financial services provider’s stock, valued at approximately $788,000.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in The PNC Financial Services Group by 18.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 3,200 shares of the financial services provider’s stock valued at $562,000 after buying an additional 500 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in The PNC Financial Services Group by 200.1% in the first quarter. Northwest & Ethical Investments L.P. now owns 3,076 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 2,051 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of The PNC Financial Services Group by 60.8% in the 1st quarter. Brooklyn Investment Group now owns 3,492 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its holdings in The PNC Financial Services Group by 44.0% during the 1st quarter. Aptus Capital Advisors LLC now owns 31,915 shares of the financial services provider’s stock worth $5,610,000 after acquiring an additional 9,747 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $210.10 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $213.03. The business’s 50-day moving average price is $188.94 and its 200-day moving average price is $191.82. The firm has a market capitalization of $82.39 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.19 and a beta of 1.01.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s payout ratio is 43.93%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PNC shares. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Raymond James Financial boosted their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday. Finally, Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.17.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the 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 completion of the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is currently owned by company insiders.

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.