The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Calton & Associates Inc.

Calton & Associates Inc. reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 20.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,750 shares of the financial services provider’s stock after selling 950 shares during the period. Calton & Associates Inc.’s holdings in The PNC Financial Services Group were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PNC. Foundations Investment Advisors LLC grew its stake in shares of The PNC Financial Services Group by 5.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $285,000 after buying an additional 86 shares in the last quarter. Telos Capital Management Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Telos Capital Management Inc. now owns 36,856 shares of the financial services provider’s stock worth $6,813,000 after purchasing an additional 186 shares during the period. Ledyard National Bank increased its position in shares of The PNC Financial Services Group by 2.8% during the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 64 shares during the period. Community Financial Services Group LLC raised its stake in shares of The PNC Financial Services Group by 442.6% in the third quarter. Community Financial Services Group LLC now owns 32,176 shares of the financial services provider’s stock valued at $5,948,000 after purchasing an additional 26,246 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of The PNC Financial Services Group by 55.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 69,759 shares of the financial services provider’s stock valued at $12,895,000 after buying an additional 24,970 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.3 %

PNC traded down $0.64 on Tuesday, reaching $185.00. 59,808 shares of the company traded hands, compared to its average volume of 1,859,480. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $196.64. The company has a market cap of $73.61 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $181.20 and a two-hundred day simple moving average of $167.47.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.39 billion. During the same quarter last year, the firm posted $3.60 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts expect 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 given a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Activity 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 that occurred on Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the sale, the chief executive officer now directly owns 560,911 shares in the company, valued at $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at approximately $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,662 shares of company stock valued at $4,459,819 in the last three months. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNC. Royal Bank of Canada upped their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Citigroup raised their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $185.71.

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.