Ferguson Wellman Capital Management Inc. Sells 1,548 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Ferguson Wellman Capital Management Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,885 shares of the financial services provider’s stock after selling 1,548 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $1,642,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC lifted its position in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the period. Bank & Trust Co purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $26,000. LRI Investments LLC bought a new stake in The PNC Financial Services Group during the first quarter worth about $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth about $29,000. Finally, Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $33,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total transaction of $215,884.44. Following the transaction, the chief executive officer now directly owns 559,669 shares in the company, valued at approximately $97,281,665.58. 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 accessible through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,420 shares of company stock valued at $4,223,131. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 0.3 %

NYSE:PNC opened at $189.38 on Friday. The company has a market cap of $75.28 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. 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 simple moving average of $180.83 and a two-hundred day simple moving average of $167.20. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.60%.

Analysts Set New Price Targets

A number of analysts have recently commented on PNC shares. Royal Bank of Canada upped their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.