The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 61.9% in the third quarter, Holdings Channel reports. The fund owned 4,993 shares of the financial services provider’s stock after selling 8,122 shares during the period. Prio Wealth Limited Partnership’s holdings in The PNC Financial Services Group were worth $923,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Calton & Associates Inc. raised its holdings in The PNC Financial Services Group by 439.3% in the 3rd quarter. Calton & Associates Inc. now owns 25,345 shares of the financial services provider’s stock valued at $4,685,000 after acquiring an additional 20,645 shares during the last quarter. Atlas Wealth Partners LLC acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $333,000. Cyndeo Wealth Partners LLC raised its holdings in The PNC Financial Services Group by 8.6% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 1,578 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 125 shares during the last quarter. DMC Group LLC raised its holdings in The PNC Financial Services Group by 24.0% in the 3rd quarter. DMC Group LLC now owns 3,016 shares of the financial services provider’s stock valued at $558,000 after acquiring an additional 584 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings 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 worth $3,148,000 after buying an additional 56 shares during 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 firm’s 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael P. Lyons sold 11,000 shares of the firm’s 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 in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,420 shares of company stock valued at $4,223,131 in the last 90 days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 1.1 %

PNC stock traded down $2.06 during midday trading on Monday, hitting $187.32. The company’s stock had a trading volume of 218,427 shares, compared to its average volume of 1,861,228. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $196.64. The firm has a market capitalization of $74.54 billion, a P/E ratio of 15.90, a PEG ratio of 2.06 and a beta of 1.14. The firm has a 50-day simple moving average of $180.83 and a 200-day simple moving average of $167.27.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results 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 15.53% and a return on equity of 11.33%. The company 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 firm’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.42%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PNC shares. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. UBS Group raised their price target 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. 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. Finally, Royal Bank of Canada increased their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.