The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Rockland Trust Co.

Rockland Trust Co. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,152 shares of the financial services provider’s stock after selling 1,419 shares during the period. Rockland Trust Co.’s holdings in The PNC Financial Services Group were worth $1,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $26,000. ORG Partners LLC raised its stake in shares of 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 worth $26,000 after buying an additional 110 shares during the period. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the sale, the chief executive officer now directly owns 563,395 shares in the company, valued at $94,368,662.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak sold 2,404 shares of the stock in a transaction dated Tuesday, July 9th. The stock was 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 filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group 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 directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,824 shares of company stock worth $4,580,223. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PNC. Jefferies Financial Group upped their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. 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. Evercore ISI lifted their price objective on The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America raised 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 report on Thursday, August 15th. Finally, Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $177.65.

The PNC Financial Services Group Stock Down 0.6 %

Shares of NYSE PNC opened at $178.39 on Friday. The company has a market capitalization of $70.91 billion, a P/E ratio of 14.98, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The company has a 50 day simple moving average of $178.11 and a 200-day simple moving average of $164.85. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.36 earnings per share. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

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.