Afam Capital Inc. Has $7.52 Million Stake in PNC Financial Services Group Inc (PNC)

Afam Capital Inc. lifted its position in PNC Financial Services Group Inc (NYSE:PNC) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,777 shares of the financial services provider’s stock after acquiring an additional 727 shares during the period. PNC Financial Services Group comprises approximately 0.9% of Afam Capital Inc.’s holdings, making the stock its 27th largest position. Afam Capital Inc.’s holdings in PNC Financial Services Group were worth $7,517,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Proficio Capital Partners LLC lifted its stake in 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 valued at $100,000 after acquiring an additional 710 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake 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 valued at $103,000 after acquiring an additional 91 shares during the last quarter. First Interstate Bank lifted its stake 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 valued at $123,000 after acquiring an additional 25 shares during the last quarter. Atlantic Trust LLC acquired a new stake in shares of PNC Financial Services Group in the second quarter worth $129,000. Finally, Legacy Advisors LLC acquired a new stake in shares of PNC Financial Services Group in the third quarter worth $136,000. 81.57% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider E William Parsley III sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total transaction of $3,467,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. The disclosure for this sale can be found here. Insiders sold a total of 42,640 shares of company stock worth $5,901,852 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.

PNC Financial Services Group Inc (NYSE:PNC) traded down $0.51 during trading on Tuesday, reaching $143.29. 2,231,100 shares of the company’s stock were exchanged, compared to its average volume of 2,191,576. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a 52 week low of $112.61 and a 52 week high of $145.66. The firm has a market cap of $68,420.20, a P/E ratio of 17.56, a PEG ratio of 1.92 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the company posted $1.84 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. research analysts expect that PNC Financial Services Group Inc will post 8.44 earnings per share for the current fiscal year.

Several research firms recently commented on PNC. Wells Fargo & Company set a $135.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Thursday, October 19th. Sanford C. Bernstein reiterated a “market perform” rating and set a $134.00 target price on shares of PNC Financial Services Group in a research note on Tuesday, October 3rd. Citigroup reiterated a “neutral” rating and set a $144.00 target price (up from $125.00) on shares of PNC Financial Services Group in a research note on Monday, October 9th. Stephens cut shares of PNC Financial Services Group from an “overweight” rating to an “equal weight” rating in a research note on Thursday, October 5th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $139.50 target price (up from $138.50) on shares of PNC Financial Services Group in a research note on Friday, October 6th. Sixteen analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $136.13.

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PNC Financial Services Group Profile

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.

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

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