D.A. Davidson & CO. Sells 38,747 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

D.A. Davidson & CO. trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,641 shares of the financial services provider’s stock after selling 38,747 shares during the quarter. D.A. Davidson & CO.’s holdings in The PNC Financial Services Group were worth $13,829,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. MUFG Securities EMEA plc purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group during the third quarter valued at $25,000. DHJJ Financial Advisors Ltd. purchased a new stake in The PNC Financial Services Group during the third quarter valued at $29,000. Tyler Stone Wealth Management purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth $29,000. Finally, Roffman Miller Associates Inc. PA bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $30,000. 80.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Guild Deborah sold 1,533 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $132.51, for a total value of $203,137.83. Following the completion of the sale, the executive vice president now directly owns 17,092 shares in the company, valued at $2,264,860.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PNC shares. Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. Bank of America raised The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective for the company in a research note on Thursday, December 14th. Finally, UBS Group boosted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $146.59.

Get Our Latest Report on The PNC Financial Services Group

The PNC Financial Services Group Trading Up 1.1 %

NYSE PNC opened at $147.40 on Tuesday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $164.00. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $58.72 billion, a PE ratio of 11.40, a P/E/G ratio of 1.72 and a beta of 1.19. The company has a fifty day moving average of $148.70 and a 200 day moving average of $132.11.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.49 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 12.29 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.21%. The PNC Financial Services Group’s payout ratio is currently 48.48%.

The PNC Financial Services Group Company Profile

(Free Report)

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 certificates of 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.

Further Reading

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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