Woodstock Corp reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,316 shares of the financial services provider’s stock after selling 65 shares during the quarter. Woodstock Corp’s holdings in The PNC Financial Services Group were worth $3,201,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $26,000. ORG Partners LLC raised its stake in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the period. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Fortis Group Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.
Wall Street Analyst Weigh In
PNC has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their price target 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. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI upped their target price on The PNC Financial Services Group from $203.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $177.65.
The PNC Financial Services Group Trading Up 2.4 %
Shares of The PNC Financial Services Group stock opened at $187.77 on Monday. The firm has a market capitalization 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 company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average is $178.68 and its 200 day moving average is $166.20. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $189.17.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) 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 net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business earned $3.36 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.
Insider Transactions 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 that occurred on Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the sale, the chief executive officer now directly owns 560,911 shares in the company, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,420 shares of company stock worth $4,212,785. 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.
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