The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Trimmed by Argyle Capital Management Inc.

Argyle Capital Management Inc. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,518 shares of the financial services provider’s stock after selling 825 shares during the period. The PNC Financial Services Group accounts for about 2.4% of Argyle Capital Management Inc.’s portfolio, making the stock its 7th largest holding. Argyle Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $6,011,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. ORG Partners LLC grew its holdings in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at $26,000. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at $28,000. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth $29,000. Finally, Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth about $33,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group 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 transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,521 shares of company stock valued at $4,631,855 in the last ninety days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.9 %

Shares of NYSE:PNC traded down $1.69 during midday trading on Tuesday, reaching $188.14. The company’s stock had a trading volume of 150,984 shares, compared to its average volume of 1,851,959. The firm has a market cap of $74.86 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The business has a 50 day moving average price of $182.86 and a 200 day moving average price of $168.53. The PNC Financial Services Group, Inc. has a 1 year low of $111.08 and a 1 year high of $196.64. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

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, beating the consensus estimate 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 firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.60 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.40%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Citigroup raised their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Barclays increased their target price 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. Finally, Stephens lifted their price target on 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $185.71.

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.