Icon Wealth Advisors LLC Trims Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Icon Wealth Advisors LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 49.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,444 shares of the financial services provider’s stock after selling 8,125 shares during the period. Icon Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC increased its stake in 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 valued at $200,000 after buying an additional 55 shares during the period. Resonant Capital Advisors LLC increased its stake in shares of The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after acquiring an additional 56 shares during the period. Altman Advisors Inc. raised its holdings in The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 56 shares in the last quarter. Valley Brook Capital Group Inc. lifted its position in The PNC Financial Services Group by 0.5% in the third 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 during the period. Finally, Ledyard National Bank boosted its holdings in The PNC Financial Services Group by 2.8% in the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the sale, the chief executive officer now owns 548,491 shares of the company’s stock, valued at approximately $99,468,842.85. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock valued at $5,317,200 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 2.1 %

PNC opened at $210.07 on Friday. The firm’s 50 day moving average is $191.01 and its 200-day moving average is $174.58. The PNC Financial Services Group, Inc. has a 52-week low of $127.15 and a 52-week high of $214.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $83.35 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.15 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.05%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Analysts Set New Price Targets

PNC has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price target on 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. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $186.96.

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.