The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,809 shares of the financial services provider’s stock after selling 254 shares during the period. Prime Capital Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $6,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. MFA Wealth Advisors LLC increased its position in shares of The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 55 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares during the last quarter. Valley Brook Capital Group Inc. raised its position in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 57 shares in the last quarter. Ledyard National Bank boosted its stake in shares of The PNC Financial Services Group by 2.8% during the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after buying an additional 64 shares during the last quarter. Finally, Kowal Investment Group LLC grew its position in shares of The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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 of the company’s stock, valued at $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at $97,929,359.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred 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 directly 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 13,279 shares of company stock worth $2,442,673 over the last three months. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Barclays increased their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group boosted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $211.04 on Wednesday. The company has a 50-day moving average price of $186.02 and a two-hundred day moving average price of $171.55. The PNC Financial Services Group, Inc. has a 52 week low of $118.89 and a 52 week high of $211.40. The stock has a market cap of $83.74 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. 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 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the firm posted $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.