Logan Capital Management Inc. Sells 170 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Logan Capital Management Inc. lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 30,612 shares of the financial services provider’s stock after selling 170 shares during the quarter. Logan Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $5,659,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversified Trust Co increased its holdings in shares of The PNC Financial Services Group by 27.6% during the 2nd quarter. Diversified Trust Co now owns 3,665 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 793 shares during the last quarter. ORG Partners LLC boosted its position in 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 worth $26,000 after purchasing an additional 110 shares during the period. GPS Wealth Strategies Group LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at $38,000. Assenagon Asset Management S.A. raised its position in shares of The PNC Financial Services Group by 448.3% in the second quarter. Assenagon Asset Management S.A. now owns 269,206 shares of the financial services provider’s stock valued at $41,856,000 after purchasing an additional 220,110 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of The PNC Financial Services Group by 73.6% during the 2nd quarter. Blue Trust Inc. now owns 3,586 shares of the financial services provider’s stock worth $579,000 after buying an additional 1,520 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC traded down $1.25 during mid-day trading on Friday, reaching $201.06. The stock had a trading volume of 103,205 shares, compared to its average volume of 1,859,085. The stock has a 50-day simple moving average of $198.46 and a two-hundred day simple moving average of $179.61. 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 PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The stock has a market capitalization of $79.78 billion, a PE ratio of 17.10, a P/E/G ratio of 2.13 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during 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 PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.60 EPS. On average, equities analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.18%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Analysts Set New Price Targets

A number of brokerages recently commented on PNC. Keefe, Bruyette & Woods upped 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 note on Wednesday, October 16th. Morgan Stanley increased their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens upped their price objective 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, October 16th. Finally, Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday. Two investment 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’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $198.02.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the transaction, the chief executive officer now owns 549,733 shares of the company’s stock, valued at $101,007,941.42. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,030 shares of company stock worth $5,873,691. Corporate insiders own 0.42% of the company’s stock.

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.