Folger Nolan Fleming Douglas Capital Management Inc. Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,214 shares of the financial services provider’s stock after selling 176 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $964,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PNC. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $26,000. ORG Partners LLC boosted its stake 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 buying an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in The PNC Financial Services Group in the first quarter valued at $29,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $33,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $190.31 on Thursday. The company’s fifty day simple moving average is $183.49 and its 200-day simple moving average is $168.94. The company has a market cap of $75.73 billion, a PE ratio of 15.98, a P/E/G ratio of 1.98 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52 week low of $112.36 and a 52 week high of $196.64. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $3.60 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.36%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada upped their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, UBS Group upped their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. 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 company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $185.71.

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 business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,521 shares of company stock valued at $2,634,475. 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.