The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 17.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,115 shares of the financial services provider’s stock after selling 2,700 shares during the period. Prio Wealth Limited Partnership’s holdings in The PNC Financial Services Group were worth $2,039,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors boosted its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after purchasing an additional 78,407 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of The PNC Financial Services Group by 19.5% in the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of The PNC Financial Services Group by 3.2% during the fourth quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after acquiring an additional 114,960 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after acquiring an additional 223,955 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.3 %

PNC opened at $179.40 on Thursday. The firm’s 50-day simple moving average is $178.14 and its 200-day simple moving average is $164.75. 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 PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78. The firm has a market cap of $71.31 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 2.01 and a beta of 1.14.

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 the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.36 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group 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 approximately $36,151,670.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred 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 transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,465 shares of company stock worth $4,681,565. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PNC. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. 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. The Goldman Sachs Group reduced their price objective 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 note on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $177.65.

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.