Middleton & Co. Inc. MA Sells 200 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Middleton & Co. Inc. MA decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 9,052 shares of the financial services provider’s stock after selling 200 shares during the quarter. Middleton & Co. Inc. MA’s holdings in The PNC Financial Services Group were worth $1,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its position in shares of The PNC Financial Services Group by 41.5% in the 3rd quarter. Allworth Financial LP now owns 14,183 shares of the financial services provider’s stock worth $2,622,000 after acquiring an additional 4,162 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in The PNC Financial Services Group by 1.6% during the third quarter. Joel Isaacson & Co. LLC now owns 47,491 shares of the financial services provider’s stock worth $8,779,000 after purchasing an additional 745 shares during the period. Bank of Stockton increased its stake in shares of The PNC Financial Services Group by 7.8% in the 3rd quarter. Bank of Stockton now owns 4,736 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 341 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in The PNC Financial Services Group by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 11,399 shares of the financial services provider’s stock worth $2,107,000 after purchasing an additional 74 shares during the period. Finally, Ballentine Partners LLC increased its stake in The PNC Financial Services Group by 17.9% in the third quarter. Ballentine Partners LLC now owns 6,968 shares of the financial services provider’s stock valued at $1,288,000 after purchasing an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup boosted 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Stock Down 1.7 %

The PNC Financial Services Group stock opened at $185.81 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $110.79 and a 1-year high of $196.64. The firm has a 50 day simple moving average of $182.30 and a 200 day simple moving average of $167.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $73.94 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 EPS. On average, analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $173.82, for a total value of $215,884.44. Following the sale, the chief executive officer now directly owns 559,669 shares in the company, valued at $97,281,665.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $173.82, for a total value of $215,884.44. Following the sale, the chief executive officer now owns 559,669 shares of the company’s stock, valued at approximately $97,281,665.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,279 shares of company stock valued at $4,395,540. Corporate insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.