Bogart Wealth LLC Sells 13,618 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bogart Wealth LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 19.6% in the third quarter, Holdings Channel reports. The firm owned 55,793 shares of the financial services provider’s stock after selling 13,618 shares during the period. Bogart Wealth LLC’s holdings in The PNC Financial Services Group were worth $10,313,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group by 5.4% during 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 during the last quarter. Resonant Capital Advisors LLC boosted its position in shares of The PNC Financial Services Group by 0.3% in the third 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 period. Valley Brook Capital Group Inc. boosted its position in shares of The PNC Financial Services Group by 0.6% in the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 62 shares during the period. Ledyard National Bank increased its position in The PNC Financial Services Group by 2.8% during the third 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 during the period. Finally, Kowal Investment Group LLC increased its position in 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 acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several research reports. UBS Group boosted their price objective 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 boosted their price target 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. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. 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 research note on Wednesday, October 16th. Finally, Jefferies Financial Group lifted their price target 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $0.22 during trading hours on Thursday, hitting $187.99. 467,054 shares of the company’s stock were exchanged, compared to its average volume of 1,862,352. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.82. The stock’s 50-day moving average is $181.96 and its 200-day moving average is $167.82.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company posted $3.60 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is 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 on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other The PNC Financial Services Group 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 completion of the sale, the president now owns 199,095 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,662 shares of company stock worth $4,459,819. 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.