The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 53,135 shares of the financial services provider’s stock after selling 9,482 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in The PNC Financial Services Group were worth $9,822,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PNC. ORG Partners LLC grew its holdings in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $26,000. 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 purchased a new stake in The PNC Financial Services Group in the 1st quarter valued at $29,000. Finally, Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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 on Friday, August 16th. The shares were sold at an average price of $171.80, for a total transaction of $213,375.60. Following the transaction, the chief executive officer now owns 557,185 shares in the company, valued at approximately $95,724,383. The trade was a 0.00 % decrease in their position. The transaction 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 16th. The shares were sold at an average price of $171.80, for a total transaction of $213,375.60. Following the sale, the chief executive officer now owns 557,185 shares in the company, valued at $95,724,383. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,279 shares of company stock valued at $2,418,591 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PNC. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. UBS Group lifted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays increased their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two research 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. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Trading Down 0.6 %

PNC stock opened at $187.15 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $114.51 and a 52 week high of $196.64. The company has a market cap of $74.39 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.02 and a beta of 1.14. 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 business has a fifty day simple moving average of $183.94 and a 200-day simple moving average of $169.34.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.60 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid 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 3.42%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.