Frazier Financial Advisors LLC Sells 1,842 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Frazier Financial Advisors LLC reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 49.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,882 shares of the financial services provider’s stock after selling 1,842 shares during the period. Frazier Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PNC. ORG Partners LLC raised its position in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter valued at approximately $28,000. Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter valued at approximately $33,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $207.68 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $82.40 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The firm’s fifty day simple moving average is $188.25 and its two-hundred day simple moving average is $172.94. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19.

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 analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Wall Street Analyst Weigh In

PNC has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Barclays upped their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $186.96.

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 dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the sale, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,546 shares of company stock valued at $5,277,493. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group 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.