Creative Planning Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Creative Planning lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 41.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,872 shares of the financial services provider’s stock after selling 49,511 shares during the period. Creative Planning’s holdings in The PNC Financial Services Group were worth $10,864,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group during the second quarter valued at $26,000. ORG Partners LLC increased its stake in The PNC Financial Services Group by 203.7% during 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 in the last quarter. LRI Investments LLC bought a new stake in The PNC Financial Services Group during the 1st quarter valued at about $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $29,000. Finally, Core Wealth Advisors Inc. bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $31,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PNC. UBS Group upped their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” 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 report on Thursday, August 22nd. Citigroup lifted their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $176.90.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $179.95 on Wednesday. The stock has a market cap of $71.60 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s fifty day moving average is $178.10 and its 200 day moving average is $164.65. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.36 EPS. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the sale, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the sale, the chief executive officer now owns 567,041 shares in the company, valued at approximately $89,649,182.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the transaction, the chief executive officer now owns 563,395 shares in the company, valued at $94,368,662.50. The disclosure for this sale can be found here. Insiders have sold 26,465 shares of company stock valued at $4,681,565 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

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.