The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 32.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 586 shares of the financial services provider’s stock after selling 279 shares during the period. Venturi Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $108,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PNC. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after purchasing an additional 78,407 shares during the period. Ameriprise Financial Inc. increased its stake in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after buying an additional 18,397 shares during the period. Legal & General Group Plc lifted its position in The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after buying an additional 223,955 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after buying an additional 22,271 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of The PNC Financial Services Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after acquiring an additional 100,993 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $207.96 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $126.41 and a 12 month high of $214.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $82.51 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.13. The business’s 50 day moving average is $187.09 and its two-hundred day moving average is $172.19.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm earned $3.60 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent research reports. 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 note on Wednesday, October 16th. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. 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. The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Two investment 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. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $185.71.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at $97,929,359.45. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,277,493 in the last quarter. Corporate insiders own 0.42% of the company’s stock.

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.