The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Trimmed by D.B. Root & Company LLC

D.B. Root & Company LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,762 shares of the financial services provider’s stock after selling 1,065 shares during the quarter. D.B. Root & Company LLC’s holdings in The PNC Financial Services Group were worth $880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC boosted its position in shares of The PNC Financial Services Group by 203.7% in the 2nd 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 during the period. Bank & Trust Co purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth about $26,000. LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth about $28,000. Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth about $33,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the sale, the chief executive officer now directly owns 557,185 shares in the company, valued at approximately $95,724,383. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the sale, the chief executive officer now directly owns 557,185 shares in the company, valued at approximately $95,724,383. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,521 shares of company stock worth $2,653,950. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PNC shares. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Stephens lifted their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. 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 report on Wednesday, October 16th. Evercore ISI lifted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Stock Performance

Shares of 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 business’s 50 day moving average is $184.75 and its two-hundred day moving average is $170.42. The company has a market cap of $81.33 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.98 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $118.56 and a 12 month high of $205.06.

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, topping the consensus estimate of $3.30 by $0.19. The company 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.60 EPS. On average, equities 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders 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 dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

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.