ASB Consultores LLC Cuts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

ASB Consultores LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,491 shares of the financial services provider’s stock after selling 412 shares during the period. ASB Consultores LLC’s holdings in The PNC Financial Services Group were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC boosted its holdings 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 valued at $200,000 after acquiring an additional 55 shares during the period. Resonant Capital Advisors LLC boosted its holdings in The PNC Financial Services Group by 0.3% during the third 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 in the last quarter. Valley Brook Capital Group Inc. raised its position in shares of The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 62 shares during the period. Ledyard National Bank lifted its stake in The PNC Financial Services Group by 2.8% during the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after buying an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC raised its stake in The PNC Financial Services Group by 2.6% during the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 68 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 value of $213,375.60. Following the transaction, the chief executive officer now directly owns 557,185 shares of the company’s stock, valued at $95,724,383. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Martin Pfinsgraff sold 859 shares of the business’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 sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now owns 557,185 shares in the company, valued at approximately $95,724,383. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,521 shares of company stock worth $2,653,950 over the last three months. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. UBS Group raised their target price 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. The Goldman Sachs Group reduced 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 note on Wednesday, September 11th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Stock Down 0.6 %

PNC opened at $185.95 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $118.56 and a 12 month high of $196.64. The company has a 50 day moving average of $184.09 and a 200 day moving average of $169.92. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $73.92 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) 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 analyst estimates of $5.39 billion. During the same quarter last year, the company earned $3.60 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is presently 54.10%.

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.