Well Done LLC Sells 207 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Well Done LLC trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,237 shares of the financial services provider’s stock after selling 207 shares during the quarter. Well Done LLC’s holdings in The PNC Financial Services Group were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Nomura Holdings Inc. bought a new position in The PNC Financial Services Group during the fourth quarter worth $1,243,000. Los Angeles Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 526.5% in the first quarter. Los Angeles Capital Management LLC now owns 12,888 shares of the financial services provider’s stock valued at $2,083,000 after acquiring an additional 10,831 shares during the period. GAMMA Investing LLC boosted its position in shares of The PNC Financial Services Group by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,895 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 133 shares during the period. Wedmont Private Capital boosted its position in shares of The PNC Financial Services Group by 3.1% in the first quarter. Wedmont Private Capital now owns 3,424 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 104 shares during the period. Finally, Lantz Financial LLC boosted its position in shares of The PNC Financial Services Group by 4.2% in the first quarter. Lantz Financial LLC now owns 2,058 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 83 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of 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. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada boosted their target price on shares of 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 downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Two investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $185.71.

Insider Transactions at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total value of $215,884.44. Following the completion of the transaction, the chief executive officer now directly owns 559,669 shares of the company’s stock, valued at $97,281,665.58. This trade 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 is available at the SEC website. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,420 shares of company stock worth $4,223,131 in the last quarter. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.1 %

NYSE PNC traded up $0.24 during trading hours on Friday, hitting $189.04. 244,253 shares of the company’s stock were exchanged, compared to its average volume of 1,861,398. 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 PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $196.64. The stock has a 50-day simple moving average of $180.44 and a 200 day simple moving average of $166.93. The firm has a market cap of $75.22 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released 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 PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm posted $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.39%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

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.