Vestmark Advisory Solutions Inc. Sells 10,294 Shares of The PNC Financial Services Group, Inc $PNC

Vestmark Advisory Solutions Inc. decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 55.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,387 shares of the financial services provider’s stock after selling 10,294 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in The PNC Financial Services Group were worth $1,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group in the first quarter worth about $216,000. Cerity Partners LLC boosted its holdings in The PNC Financial Services Group by 6.3% in the first quarter. Cerity Partners LLC now owns 130,126 shares of the financial services provider’s stock worth $22,872,000 after acquiring an additional 7,677 shares in the last quarter. IFC Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter worth about $228,000. Finally, Ballentine Partners LLC increased its holdings in shares of The PNC Financial Services Group by 11.4% during the first quarter. Ballentine Partners LLC now owns 8,552 shares of the financial services provider’s stock valued at $1,503,000 after acquiring an additional 873 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,151 shares of company stock worth $400,092. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on PNC shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Raymond James Financial boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, Bank of America lifted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Trading Up 0.6%

Shares of NYSE:PNC opened at $184.07 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The business has a 50 day moving average of $193.80 and a two-hundred day moving average of $187.35. The company has a market capitalization of $72.18 billion, a PE ratio of 11.89, a PEG ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same period in the previous year, the firm earned $3.49 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

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.