Gateway Investment Advisers LLC Sells 68 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Gateway Investment Advisers LLC reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,571 shares of the financial services provider’s stock after selling 68 shares during the quarter. Gateway Investment Advisers LLC’s holdings in The PNC Financial Services Group were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Valley Brook Capital Group Inc. grew its stake in shares of The PNC Financial Services Group by 0.6% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after acquiring an additional 62 shares in the last quarter. Kowal Investment Group LLC grew its stake in shares of The PNC Financial Services Group by 2.6% in the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after buying an additional 68 shares in the last quarter. Ranch Capital Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 1.0% in the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 69 shares in the last quarter. Triangle Securities Wealth Management grew its stake in shares of The PNC Financial Services Group by 1.8% in the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after buying an additional 70 shares in the last quarter. Finally, Cooper Financial Group grew its stake in shares of The PNC Financial Services Group by 1.7% in the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after buying an additional 70 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PNC shares. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Evercore ISI raised their target price on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised 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. UBS Group raised their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley raised their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $177.65.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated 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 completion of the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,420 shares of company stock worth $4,212,785 in the last quarter. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $187.77 on Monday. 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 52-week low of $109.40 and a 52-week high of $189.17. The business’s 50 day moving average price is $178.68 and its two-hundred day moving average price is $166.20. The firm has a market cap of $74.71 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company posted $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

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.