Financial Partners Group LLC Sells 85 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Partners Group LLC lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,210 shares of the financial services provider’s stock after selling 85 shares during the quarter. Financial Partners Group LLC’s holdings in The PNC Financial Services Group were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank & Trust Co acquired a new position in The PNC Financial Services Group in the second quarter valued at about $26,000. ORG Partners LLC increased 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 purchasing an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $28,000. Palisade Asset Management LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth $29,000. Finally, Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group during the second quarter worth about $33,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PNC shares. Jefferies Financial Group lifted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $188.94 on Friday. The stock has a market cap of $75.18 billion, a PE ratio of 15.86, a P/E/G ratio of 1.98 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $181.96 and a 200-day moving average of $167.82. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.60 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Insiders Place Their Bets

In other news, President Michael P. Lyons sold 11,000 shares of the business’s 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 sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the sale, the chief executive officer now directly owns 558,427 shares in the company, valued at approximately $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael P. Lyons sold 11,000 shares of the business’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 value of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,279 shares of company stock worth $4,395,540 in the last 90 days. Company insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.