Sheaff Brock Investment Advisors LLC Has $774,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sheaff Brock Investment Advisors LLC lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the third quarter, Holdings Channel.com reports. The fund owned 4,185 shares of the financial services provider’s stock after selling 100 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital International Investors increased its position in shares of The PNC Financial Services Group by 0.5% in 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 acquiring an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares during the period. Legal & General Group Plc grew its holdings in The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after purchasing an additional 223,955 shares during the period. Principal Financial Group Inc. grew its holdings in The PNC Financial Services Group by 1.0% during 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 purchasing an additional 22,271 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after purchasing an additional 100,993 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC stock opened at $207.68 on Friday. 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 stock has a market cap of $82.40 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. The stock has a 50 day simple moving average of $188.25 and a 200 day simple moving average of $172.80. The PNC Financial Services Group, Inc. has a 1 year low of $127.08 and a 1 year high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $3.60 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.46 earnings per share for the current fiscal 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 issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PNC shares. Barclays lifted their price target on 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. Evercore ISI lifted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday. Two 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.com, the company has a consensus rating of “Hold” and an average price target of $186.96.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,546 shares of company stock worth $5,277,493. Corporate insiders own 0.42% 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.