Vicus Capital Sells 1,529 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Vicus Capital cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 57.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,116 shares of the financial services provider’s stock after selling 1,529 shares during the period. Vicus Capital’s holdings in The PNC Financial Services Group were worth $206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Home Federal Bank of Tennessee purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth about $238,000. Foundations Investment Advisors LLC boosted its position in shares of The PNC Financial Services Group by 5.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 86 shares in the last quarter. Telos Capital Management Inc. raised its position in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Telos Capital Management Inc. now owns 36,856 shares of the financial services provider’s stock worth $6,813,000 after purchasing an additional 186 shares during the last quarter. Ledyard National Bank increased its stake in The PNC Financial Services Group by 2.8% during the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 64 shares in the last quarter. Finally, Community Financial Services Group LLC boosted its stake in The PNC Financial Services Group by 442.6% during the 3rd quarter. Community Financial Services Group LLC now owns 32,176 shares of the financial services provider’s stock valued at $5,948,000 after purchasing an additional 26,246 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Stephens boosted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their target price 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 The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Trading Up 0.3 %

PNC opened at $186.28 on Wednesday. The company has a market cap of $74.05 billion, a P/E ratio of 15.75, a PEG ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $196.64. The business’s 50-day simple moving average is $181.56 and its 200-day simple moving average is $167.68.

The PNC Financial Services Group (NYSE:PNC) last released 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 firm 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.60 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.44%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total value of $215,884.44. Following the sale, the chief executive officer now directly owns 559,669 shares in the company, valued at $97,281,665.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,662 shares of company stock valued at $4,459,819 over the last three months. 0.42% of the stock is currently owned by company insiders.

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.