W.G. Shaheen & Associates DBA Whitney & Co Sells 100 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

W.G. Shaheen & Associates DBA Whitney & Co cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,817 shares of the financial services provider’s stock after selling 100 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in The PNC Financial Services Group were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $26,000. ORG Partners LLC boosted its holdings in shares of 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 position in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group in the second quarter valued at $33,000. Finally, Valley Wealth Managers Inc. grew its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at approximately $101,604,582.17. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock worth $5,535,978 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $206.83 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19. 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 company has a 50-day simple moving average of $188.73 and a two-hundred day simple moving average of $173.43. The stock has a market capitalization of $82.07 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13.

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 for the quarter, topping 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 business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the company earned $3.60 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Stephens raised their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $186.96.

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.