PNC Financial Services Group Inc. Sells 30,822 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

PNC Financial Services Group Inc. lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,488,258 shares of the financial services provider’s stock after selling 30,822 shares during the quarter. PNC Financial Services Group Inc.’s holdings in The PNC Financial Services Group were worth $275,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 203.7% during the 2nd 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. Bank & Trust Co bought a new stake in The PNC Financial Services Group during the second quarter worth about $26,000. LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth about $28,000. Valley Wealth Managers Inc. increased its stake in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $33,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $206.83 on Tuesday. The stock has a market capitalization of $82.07 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $127.08 and a 1-year high of $214.19. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The business’s fifty day moving average price is $188.73 and its 200-day moving average price is $173.43.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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 PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.60 earnings per share. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.09%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,788 shares of company stock valued at $5,535,978. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays raised their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Stephens lifted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $186.96.

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.