The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Lowered by Rise Advisors LLC

Rise Advisors LLC decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 55.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 570 shares of the financial services provider’s stock after selling 706 shares during the period. Rise Advisors LLC’s holdings in The PNC Financial Services Group were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the period. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $26,000. LRI Investments LLC bought a new position in The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group during the 1st quarter valued at $29,000. Finally, Fortis Group Advisors LLC boosted its position in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Up 2.4 %

Shares of PNC stock opened at $187.77 on Monday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $189.17. The company has a market capitalization of $74.71 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s 50 day simple moving average is $178.68 and its 200 day simple moving average is $166.20.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.36 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup increased their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays increased their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. UBS Group boosted their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley increased their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI boosted their price objective on The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $177.65.

Insider Transactions at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the transaction, the chief executive officer now owns 560,911 shares in the company, valued at approximately $101,233,217.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,420 shares of company stock worth $4,212,785. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Company 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.