Delta Financial Advisors LLC Reduces Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Delta Financial Advisors LLC cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,913 shares of the financial services provider’s stock after selling 109 shares during the period. Delta Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PNC. Capital International Investors lifted its holdings in The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after purchasing an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. grew its stake in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after buying an additional 18,397 shares in the last quarter. Legal & General Group Plc raised its holdings in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after acquiring an additional 223,955 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after acquiring an additional 22,271 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of The PNC Financial Services Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after purchasing an additional 100,993 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $203.97 on Monday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $118.56 and a fifty-two week high of $205.20. The company has a market capitalization of $80.93 billion, a P/E ratio of 17.24, a PEG ratio of 2.16 and a beta of 1.13. The stock has a 50 day moving average price of $185.53 and a two-hundred day moving average price of $171.17.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.60 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at $97,929,359.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,279 shares of company stock valued at $2,442,673. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of several analyst reports. Morgan Stanley upped their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. UBS Group upped their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Barclays lifted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.