Golden State Equity Partners Sells 320 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Golden State Equity Partners cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 21.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,141 shares of the financial services provider’s stock after selling 320 shares during the period. Golden State Equity Partners’ holdings in The PNC Financial Services Group were worth $211,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNC. BSN CAPITAL PARTNERS Ltd bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $12,548,000. Bleakley Financial Group LLC lifted its position in The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in The PNC Financial Services Group during the second quarter valued at $822,000. Equity Investment Corp grew its stake in shares of The PNC Financial Services Group by 3.4% in the 1st 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. Finally, Duality Advisers LP increased its holdings in shares of The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after buying an additional 10,743 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.0 %

Shares of NYSE PNC opened at $188.23 on Friday. The stock has a 50 day moving average price of $183.75 and a 200 day moving average price of $169.08. The firm has a market capitalization of $74.90 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.98 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52-week low of $112.36 and a 52-week high of $196.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.40%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the completion of the transaction, the chief executive officer now directly owns 557,185 shares of the company’s stock, valued at approximately $95,724,383. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,279 shares of company stock valued at $2,418,591. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. Citigroup increased their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada lifted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $185.71.

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.