Legend Financial Advisors Inc. Sells 149 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Legend Financial Advisors Inc. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 20.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 595 shares of the financial services provider’s stock after selling 149 shares during the period. Legend Financial Advisors Inc.’s holdings in The PNC Financial Services Group were worth $110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of The PNC Financial Services Group in the third quarter worth approximately $12,548,000. Deerfield Management Company L.P. Series C bought a new stake in shares of The PNC Financial Services Group in the second quarter worth about $822,000. Equity Investment Corp lifted its position in shares of The PNC Financial Services Group by 3.4% in the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after buying an additional 22,188 shares in the last quarter. Duality Advisers LP boosted its stake in The PNC Financial Services Group by 108.5% during the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after buying an additional 10,743 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $18,159,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Citigroup increased their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley increased 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. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Stephens increased their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment 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. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Stock Up 0.3 %

Shares of PNC opened at $189.38 on Friday. The firm has a market capitalization of $75.28 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.06 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $196.64. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The firm has a fifty day moving average price of $180.83 and a 200-day moving average price of $167.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.60 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The PNC Financial Services Group’s payout ratio is currently 53.60%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the transaction, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the sale, the chief executive officer now owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,420 shares of company stock worth $4,223,131 in the last three months. Corporate insiders own 0.42% of the company’s stock.

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.