Principle Wealth Partners LLC Has $586,000 Position in PNC Financial Services Group Inc (NYSE:PNC)

Principle Wealth Partners LLC reduced its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,183 shares of the financial services provider’s stock after selling 260 shares during the period. Principle Wealth Partners LLC’s holdings in PNC Financial Services Group were worth $586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brightworth grew its position in shares of PNC Financial Services Group by 4.1% during the 2nd quarter. Brightworth now owns 1,784 shares of the financial services provider’s stock worth $245,000 after buying an additional 70 shares in the last quarter. City Holding Co. grew its position in shares of PNC Financial Services Group by 1.7% during the 3rd quarter. City Holding Co. now owns 4,273 shares of the financial services provider’s stock worth $599,000 after buying an additional 72 shares in the last quarter. Canal Capital Management LLC grew its position in shares of PNC Financial Services Group by 0.8% during the 3rd quarter. Canal Capital Management LLC now owns 9,278 shares of the financial services provider’s stock worth $1,300,000 after buying an additional 73 shares in the last quarter. SevenBridge Financial Group LLC grew its position in shares of PNC Financial Services Group by 0.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 14,576 shares of the financial services provider’s stock worth $2,043,000 after buying an additional 75 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in shares of PNC Financial Services Group by 1.4% during the 3rd quarter. Trust Co. of Vermont now owns 5,567 shares of the financial services provider’s stock worth $780,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.

PNC stock traded down $0.87 during trading on Friday, reaching $152.20. 1,573,036 shares of the company traded hands, compared to its average volume of 2,010,443. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $154.75. The business has a 50 day simple moving average of $143.35 and a 200 day simple moving average of $136.47. The company has a market capitalization of $67.25 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.14. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter last year, the company earned $2.82 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts forecast that PNC Financial Services Group Inc will post 11.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Thursday, October 17th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Wednesday, October 16th. PNC Financial Services Group’s payout ratio is currently 42.95%.

In related news, EVP Joseph E. Rockey sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the sale, the executive vice president now owns 18,453 shares of the company’s stock, valued at $2,675,685. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles E. Bunch acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $124.38 per share, for a total transaction of $124,380.00. Following the transaction, the director now owns 3,781 shares of the company’s stock, valued at $470,280.78. The disclosure for this purchase can be found here. 0.37% of the stock is owned by company insiders.

PNC has been the topic of a number of recent research reports. Zacks Investment Research downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price target on the stock. in a research report on Tuesday, October 1st. Barclays set a $158.00 price target on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price target on PNC Financial Services Group from $141.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Co increased their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Finally, UBS Group increased their price target on PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $146.20.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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