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

Modera Wealth Management LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,116 shares of the financial services provider’s stock after selling 651 shares during the quarter. Modera Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $28,303,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after buying an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Jennison Associates LLC lifted its stake in The PNC Financial Services Group by 38.4% in the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after purchasing an additional 291,769 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after purchasing an additional 276,200 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 1.7 %

NYSE PNC opened at $185.82 on Friday. 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 market cap of $73.94 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.98 and a beta of 1.14. The firm has a 50 day simple moving average of $182.56 and a 200-day simple moving average of $168.19. The PNC Financial Services Group, Inc. has a one year low of $110.79 and a one year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company posted $3.60 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Citigroup lifted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, UBS Group increased their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $185.71.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the completion of the transaction, the chief executive officer now directly owns 559,669 shares of the company’s stock, valued at approximately $97,281,665.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $173.82, for a total transaction of $215,884.44. Following the completion of the sale, the chief executive officer now directly owns 559,669 shares of the company’s stock, valued at approximately $97,281,665.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,279 shares of company stock valued at $4,395,540 in the last quarter. Corporate 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.