Planning Capital Management Corp Sells 54 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Planning Capital Management Corp trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,927 shares of the financial services provider’s stock after selling 54 shares during the period. Planning Capital Management Corp’s holdings in The PNC Financial Services Group were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Empowered Funds LLC raised its position in shares of The PNC Financial Services Group by 8.7% during the 1st quarter. Empowered Funds LLC now owns 5,322 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 426 shares during the period. Kingsview Wealth Management LLC raised its position in shares of The PNC Financial Services Group by 3.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 17,955 shares of the financial services provider’s stock valued at $2,902,000 after purchasing an additional 541 shares during the period. Orion Portfolio Solutions LLC increased its holdings in The PNC Financial Services Group by 1.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 44,457 shares of the financial services provider’s stock valued at $7,184,000 after acquiring an additional 796 shares during the last quarter. ProVise Management Group LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $203,000. Finally, Great Lakes Retirement Inc. increased its holdings in The PNC Financial Services Group by 61.3% in the 1st quarter. Great Lakes Retirement Inc. now owns 7,666 shares of the financial services provider’s stock valued at $1,239,000 after acquiring an additional 2,913 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Barclays upped their target price on shares of 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. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Two 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 stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Stock Down 0.8 %

Shares of NYSE:PNC opened at $209.27 on Thursday. The stock has a market cap of $83.03 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.13. The firm has a fifty day moving average price of $187.09 and a 200 day moving average price of $172.19. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $122.75 and a 1-year high of $214.19.

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, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.60 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.06%. The PNC Financial Services Group’s dividend payout ratio is currently 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 company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the transaction, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at $97,929,359.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’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 in the company, valued at approximately $170,299.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,788 shares of company stock valued at $5,490,869. 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.