Icon Wealth Advisors LLC Has $3.03 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Icon Wealth Advisors LLC cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,411 shares of the financial services provider’s stock after selling 158 shares during the period. Icon Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,034,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC grew its stake in The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after acquiring an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new position in The PNC Financial Services Group in the third quarter valued at about $12,548,000. Bleakley Financial Group LLC grew its stake in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in The PNC Financial Services Group in the second quarter valued at about $822,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter worth about $18,159,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNC has been the subject of several recent research reports. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $189.15.

The PNC Financial Services Group Stock Up 0.4 %

Shares of NYSE:PNC opened at $215.00 on Friday. The firm has a market cap of $85.31 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.25 and a beta of 1.13. 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 PNC Financial Services Group, Inc. has a 12-month low of $127.83 and a 12-month high of $216.18. The business has a fifty day simple moving average of $193.50 and a 200 day simple moving average of $176.17.

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 for the quarter, topping 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 firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company posted $3.60 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share 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. Stockholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock worth $5,345,530 in the last three months. Company insiders own 0.42% of the company’s stock.

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.