The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Harvey Investment Co. LLC

Harvey Investment Co. LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,942 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Harvey Investment Co. LLC’s holdings in The PNC Financial Services Group were worth $7,383,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. MFA Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC raised its position in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after buying an additional 56 shares during the last quarter. Valley Brook Capital Group Inc. lifted its stake in shares of The PNC Financial Services Group by 0.6% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after acquiring an additional 62 shares during the period. Ledyard National Bank boosted its holdings in shares of The PNC Financial Services Group by 2.8% in the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC increased its stake in shares of The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNC. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Royal Bank of Canada increased their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup boosted their price target on 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. Two 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $188.02 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.82. The firm has a market cap of $74.74 billion, a PE ratio of 15.91, a P/E/G ratio of 2.02 and a beta of 1.14. The firm has a 50 day simple moving average of $181.96 and a 200-day simple moving average of $167.82. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-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 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm posted $3.60 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at $101,233,217.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,662 shares of company stock worth $4,459,819 in the last 90 days. 0.42% of the stock is owned by company insiders.

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.