Glenmede Trust Co. NA Sells 239 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Glenmede Trust Co. NA reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 492,244 shares of the financial services provider’s stock after selling 239 shares during the period. Glenmede Trust Co. NA’s holdings in The PNC Financial Services Group were worth $90,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Loomis Sayles & Co. L P lifted its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after buying an additional 50 shares during the period. MFA Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after buying an additional 55 shares during the period. Resonant Capital Advisors LLC grew its position in The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after purchasing an additional 56 shares during the period. Altman Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 57 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Up 0.8 %

PNC stock opened at $214.26 on Wednesday. The company has a market capitalization of $85.01 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $127.49 and a one year high of $214.81. The company’s 50 day moving average price is $192.29 and its two-hundred day moving average price is $175.62.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company earned $3.60 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares in the company, valued at approximately $101,604,582.17. The trade was 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 $5,573,027 in the last ninety days. 0.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on PNC. Morgan Stanley increased 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 report on Wednesday, October 16th. Stephens increased their price objective on 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 boosted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $189.15.

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.