Souders Financial Advisors Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Souders Financial Advisors reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,122 shares of the financial services provider’s stock after selling 286 shares during the period. Souders Financial Advisors’ holdings in The PNC Financial Services Group were worth $4,089,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group by 45.6% during 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 during the period. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $12,548,000. Bleakley Financial Group LLC increased its stake in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $822,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $18,159,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Barclays lifted 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 report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Evercore ISI boosted their target price 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. Finally, UBS Group boosted their target price on 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 given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Trading Up 0.6 %

Shares of NYSE:PNC opened at $211.04 on Wednesday. The company has a market cap of $83.74 billion, a P/E ratio of 17.84, a PEG ratio of 2.22 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1 year low of $118.89 and a 1 year high of $211.40. The stock’s fifty day moving average price is $186.02 and its 200-day moving average price is $171.55.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly 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 firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.60 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’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 owns 555,943 shares in the company, valued at approximately $97,929,359.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,279 shares of company stock worth $2,442,673. 0.42% of the stock is owned by 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.