LGT Financial Advisors LLC Sells 214 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LGT Financial Advisors LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 45.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 257 shares of the financial services provider’s stock after selling 214 shares during the quarter. LGT Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $47,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Spinnaker Trust boosted its holdings in The PNC Financial Services Group by 7.0% in the 3rd quarter. Spinnaker Trust now owns 4,111 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 270 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 2,009 shares in the last quarter. Umpqua Bank boosted its stake in shares of The PNC Financial Services Group by 2.9% in the third quarter. Umpqua Bank now owns 11,111 shares of the financial services provider’s stock valued at $2,054,000 after buying an additional 309 shares during the period. Radnor Capital Management LLC acquired a new stake in The PNC Financial Services Group during the third quarter worth approximately $2,555,000. Finally, Catalina Capital Group LLC increased its stake in The PNC Financial Services Group by 7.5% during the 3rd quarter. Catalina Capital Group LLC now owns 1,932 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 135 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods raised their target price 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. Citigroup upped their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, UBS Group increased their target price 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. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $204.97 on Thursday. 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 PNC Financial Services Group, Inc. has a twelve month low of $118.56 and a twelve month high of $205.06. The stock has a fifty day simple moving average of $184.75 and a 200 day simple moving average of $170.42. The company has a market capitalization of $81.33 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.98 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company earned $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.12%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now directly owns 546,007 shares in the company, valued at approximately $104,052,553.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares in the company, valued at approximately $104,052,553.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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 directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,521 shares of company stock worth $2,653,950 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

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.