The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the third quarter, HoldingsChannel.com reports. The firm owned 10,333 shares of the financial services provider’s stock after selling 100 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $1,910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. MFA Wealth Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of 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 valued at $3,148,000 after acquiring an additional 56 shares during the last quarter. Valley Brook Capital Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% during 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 acquiring an additional 57 shares during 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 worth $434,000 after acquiring an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC grew its holdings in shares of The PNC Financial Services Group by 2.6% in the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after acquiring an additional 68 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $207.96 on Friday. The firm has a market cap of $82.51 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. The stock’s 50-day moving average is $187.09 and its two-hundred day moving average is $172.19. The PNC Financial Services Group, Inc. has a fifty-two week low of $126.41 and a fifty-two week high of $214.19. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company earned $3.60 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.46 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,277,493 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PNC. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their target price 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. Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays raised 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 report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $185.71.

About The PNC Financial Services Group

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.