Asset Dedication LLC Has $733,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Asset Dedication LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,965 shares of the financial services provider’s stock after selling 83 shares during the period. Asset Dedication LLC’s holdings in The PNC Financial Services Group were worth $733,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $26,000. ORG Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group during the first quarter worth $29,000. Finally, Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group in the 2nd quarter valued at $33,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,662 shares of company stock valued at $4,442,555. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $189.92 on Thursday. The firm has a 50-day moving average price of $180.07 and a 200-day moving average price of $166.78. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $196.64. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $75.57 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.60 EPS. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.37%. The PNC Financial Services Group’s payout ratio is 53.74%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PNC shares. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Citigroup lifted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Stephens upped their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Evercore ISI lifted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $185.71.

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.