AE Wealth Management LLC Takes $335,000 Position in PNC Financial Services Group Inc (NYSE:PNC)

AE Wealth Management LLC purchased a new position in PNC Financial Services Group Inc (NYSE:PNC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,487 shares of the financial services provider’s stock, valued at approximately $335,000.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Proficio Capital Partners LLC increased its holdings in shares of PNC Financial Services Group by 1,365.4% in the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 710 shares during the period. Tower Research Capital LLC TRC grew its position in PNC Financial Services Group by 12.5% in the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 91 shares in the last quarter. First Interstate Bank grew its position in PNC Financial Services Group by 2.6% in the second quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 25 shares in the last quarter. Atlantic Trust LLC purchased a new position in PNC Financial Services Group in the second quarter worth $129,000. Finally, Legacy Advisors LLC purchased a new position in PNC Financial Services Group in the third quarter worth $136,000. 81.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PNC Financial Services Group Inc (PNC) traded up $0.41 during mid-day trading on Thursday, reaching $143.42. 1,420,665 shares of the company traded hands, compared to its average volume of 2,193,843. PNC Financial Services Group Inc has a 52 week low of $112.61 and a 52 week high of $145.66. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $67,768.34, a PE ratio of 17.39, a P/E/G ratio of 1.90 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.03. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.09 billion. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.84 earnings per share. analysts predict that PNC Financial Services Group Inc will post 8.44 EPS for the current year.

Several research analysts recently issued reports on the stock. BidaskClub lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Royal Bank Of Canada restated a “buy” rating on shares of PNC Financial Services Group in a research report on Monday, October 16th. Credit Suisse Group upped their price target on shares of PNC Financial Services Group from $135.00 to $137.00 and gave the company a “neutral” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Tuesday, October 31st. Finally, Instinet reiterated a “neutral” rating and set a $132.00 target price (up from $129.00) on shares of PNC Financial Services Group in a report on Saturday, September 30th. Sixteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $136.13.

In other news, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the sale, the insider now directly owns 20,449 shares in the company, valued at approximately $2,801,104.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,640 shares of company stock worth $5,901,852 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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