Asset Dedication LLC Sells 83 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Asset Dedication LLC cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,965 shares of the financial services provider’s stock after selling 83 shares during the period. Asset Dedication LLC’s holdings in The PNC Financial Services Group were worth $733,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BSN CAPITAL PARTNERS Ltd bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $12,548,000. Integrated Advisors Network LLC grew its position in The PNC Financial Services Group by 7.3% during the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 148 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $822,000. Equity Investment Corp lifted its holdings in shares of The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after acquiring an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP boosted its stake in shares of The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after purchasing an additional 10,743 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.3 %

NYSE:PNC opened at $189.92 on Thursday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $180.07 and a 200-day moving average price of $166.78. The stock has a market cap of $75.57 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its 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 PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the business earned $3.60 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group boosted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Royal Bank of Canada increased their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley increased their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $185.71.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $185.00, for a total transaction of $229,770.00. Following the completion of the transaction, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at $101,241,065. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the completion of the transaction, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,662 shares of company stock valued at $4,442,555 in the last three months. 0.42% of the stock is currently 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.