CX Institutional Sells 264 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

CX Institutional lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,119 shares of the financial services provider’s stock after selling 264 shares during the quarter. CX Institutional’s holdings in The PNC Financial Services Group were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Grove Bank & Trust increased its position in The PNC Financial Services Group by 2.7% during the third quarter. Grove Bank & Trust now owns 3,558 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 94 shares during the period. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 425.6% during the third quarter. ORG Partners LLC now owns 862 shares of the financial services provider’s stock valued at $159,000 after buying an additional 698 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of The PNC Financial Services Group by 1,644.8% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 10,050 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 9,474 shares during the period. Redhawk Wealth Advisors Inc. grew its position in The PNC Financial Services Group by 5.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 4,260 shares of the financial services provider’s stock worth $788,000 after buying an additional 229 shares in the last quarter. Finally, Viking Fund Management LLC increased its stake in The PNC Financial Services Group by 2.9% during the third quarter. Viking Fund Management LLC now owns 10,600 shares of the financial services provider’s stock valued at $1,959,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $188.80 on Friday. The business has a fifty day moving average of $180.44 and a 200-day moving average of $166.93. The firm has a market cap of $75.12 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. 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 $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced its 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 PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business earned $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders 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 annualized dividend and a dividend yield of 3.39%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the transaction, the chief executive officer now owns 547,249 shares in the company, valued at $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,420 shares of company stock valued at $4,223,131. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNC. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. UBS Group upped 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, Royal Bank of Canada raised their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Company 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.