Private Advisor Group LLC Decreases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Private Advisor Group LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% in the third quarter, Holdings Channel.com reports. The fund owned 65,977 shares of the financial services provider’s stock after selling 304 shares during the quarter. Private Advisor Group LLC’s holdings in The PNC Financial Services Group were worth $12,196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BSN CAPITAL PARTNERS Ltd purchased a new position in The PNC Financial Services Group in the 3rd quarter valued at $12,548,000. Bleakley Financial Group LLC lifted its stake in shares of The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after buying an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $822,000. Equity Investment Corp raised its holdings in The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after acquiring an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP lifted its stake in The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after purchasing an additional 10,743 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was 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 related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,279 shares of company stock valued at $4,395,540. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

PNC stock opened at $188.94 on Friday. The business’s fifty day moving average price is $181.96 and its 200 day moving average price is $167.82. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month 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 company has a market capitalization of $75.18 billion, a PE ratio of 15.86, 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 results 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 company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 earnings per share. On average, sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders 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 3.39%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PNC. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays boosted their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $185.71.

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.