Old Port Advisors Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Old Port Advisors trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,258 shares of the financial services provider’s stock after selling 204 shares during the period. Old Port Advisors’ holdings in The PNC Financial Services Group were worth $2,364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares in the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in The PNC Financial Services Group in the third quarter worth $12,548,000. Bleakley Financial Group LLC raised its stake in The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in The PNC Financial Services Group during the second quarter valued at $822,000. Finally, Aljian Capital Management LLC purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth $839,000. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the transaction, the chief executive officer now directly owns 548,491 shares of the company’s stock, valued at approximately $99,468,842.85. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,272 shares of company stock worth $6,141,689 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.8 %

NYSE:PNC traded down $1.46 during midday trading on Thursday, hitting $191.39. The stock had a trading volume of 457,681 shares, compared to its average volume of 1,863,986. The stock has a 50-day moving average of $200.73 and a 200 day moving average of $183.80. The company has a market capitalization of $75.94 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.11 and a beta of 1.15. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last posted 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 business 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 EPS. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNC. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup raised their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $200.81.

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.