The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Lessened by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 61.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,194 shares of the financial services provider’s stock after selling 18,000 shares during the period. Northeast Financial Consultants Inc’s holdings in The PNC Financial Services Group were worth $1,740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. grew its position in The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 107 shares in the last quarter. Gryphon Financial Partners LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $228,000. Steward Partners Investment Advisory LLC raised its holdings in shares of The PNC Financial Services Group by 9.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,364 shares of the financial services provider’s stock worth $1,140,000 after acquiring an additional 645 shares in the last quarter. TD Asset Management Inc boosted its position in The PNC Financial Services Group by 6.0% during the fourth quarter. TD Asset Management Inc now owns 172,924 shares of the financial services provider’s stock valued at $26,777,000 after purchasing an additional 9,839 shares during the last quarter. Finally, Qtron Investments LLC grew its stake in The PNC Financial Services Group by 32.5% in the fourth quarter. Qtron Investments LLC now owns 3,903 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at $90,341,920. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William S. Demchak sold 2,404 shares of the 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 sale, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The disclosure for this sale can be found here. Insiders have sold a total of 25,223 shares of company stock worth $4,453,360 in the last three months. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PNC shares. UBS Group raised their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods increased 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. Royal Bank of Canada lifted their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two 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 data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $176.90.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $183.07 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average price of $177.92 and a 200 day moving average price of $164.10. The firm has a market capitalization of $72.77 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78.

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

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

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.