The PNC Financial Services Group, Inc $PNC Shares Sold by Creative Planning

Creative Planning decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 10.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 80,236 shares of the financial services provider’s stock after selling 9,291 shares during the quarter. Creative Planning’s holdings in The PNC Financial Services Group were worth $14,958,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ignite Planners LLC boosted its position in The PNC Financial Services Group by 8.4% during the 1st quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 126 shares during the period. HB Wealth Management LLC increased its holdings in shares of The PNC Financial Services Group by 18.8% in the 1st quarter. HB Wealth Management LLC now owns 51,133 shares of the financial services provider’s stock valued at $8,988,000 after purchasing an additional 8,077 shares during the period. Focus Partners Advisor Solutions LLC lifted its position in shares of The PNC Financial Services Group by 28.1% in the first quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock worth $5,159,000 after purchasing an additional 6,430 shares in the last quarter. Brookwood Investment Group LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $343,000. Finally, National Bank of Canada FI lifted its position in shares of The PNC Financial Services Group by 157.1% in the first quarter. National Bank of Canada FI now owns 868,901 shares of the financial services provider’s stock worth $152,726,000 after purchasing an additional 530,873 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Raymond James Financial increased their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Stock Down 2.8%

PNC stock opened at $178.91 on Tuesday. The firm has a market cap of $70.16 billion, a PE ratio of 11.56, a PEG ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a fifty day simple moving average of $191.20 and a 200 day simple moving average of $188.35. 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 (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 company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $3.49 earnings per share. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is 43.93%.

Insider Buying and Selling

In other news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,151 shares of company stock valued at $400,092 in the last ninety days. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Company 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.