Sigma Planning Corp Sells 355 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sigma Planning Corp cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,287 shares of the financial services provider’s stock after selling 355 shares during the quarter. Sigma Planning Corp’s holdings in The PNC Financial Services Group were worth $793,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. RKL Wealth Management LLC increased its position in shares of The PNC Financial Services Group by 14.1% during the 3rd quarter. RKL Wealth Management LLC now owns 3,959 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 490 shares during the last quarter. Carr Financial Group Corp increased its position in shares of The PNC Financial Services Group by 38.2% during the 3rd quarter. Carr Financial Group Corp now owns 3,736 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 1,032 shares during the last quarter. Assetmark Inc. grew its position in The PNC Financial Services Group by 2.7% during the 3rd quarter. Assetmark Inc. now owns 81,552 shares of the financial services provider’s stock worth $15,075,000 after acquiring an additional 2,150 shares during the last quarter. Provident Trust Co. grew its position in The PNC Financial Services Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,194,527 shares of the financial services provider’s stock worth $405,658,000 after acquiring an additional 5,638 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $509,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 23rd. The stock was 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. 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 can be accessed through this hyperlink. In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,788 shares of company stock worth $5,490,869. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 0.8 %

PNC opened at $209.27 on Thursday. The stock has a market cap of $83.03 billion, a PE ratio of 17.69, a PEG ratio of 2.23 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 business has a 50 day moving average of $186.55 and a 200-day moving average of $171.93. The PNC Financial Services Group, Inc. has a 52 week low of $122.75 and a 52 week high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.60 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Analysts Set New Price Targets

PNC has been the topic of several recent research reports. Stephens raised their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Evercore ISI raised their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays raised their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. 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. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $185.71.

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.