Wheatland Advisors Inc. Trims Holdings in PNC Financial Services Group Inc (NYSE:PNC)

Wheatland Advisors Inc. trimmed its position in PNC Financial Services Group Inc (NYSE:PNC) by 6.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,031 shares of the financial services provider’s stock after selling 586 shares during the quarter. Wheatland Advisors Inc.’s holdings in PNC Financial Services Group were worth $1,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Thoroughbred Financial Services LLC raised its position in PNC Financial Services Group by 13,808.1% during the second quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock valued at $188,593,000 after acquiring an additional 1,872,373 shares in the last quarter. FMR LLC raised its position in PNC Financial Services Group by 3.8% during the first quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock valued at $1,382,040,000 after acquiring an additional 407,250 shares in the last quarter. Hexavest Inc. purchased a new position in PNC Financial Services Group during the second quarter valued at approximately $53,247,000. American Century Companies Inc. raised its position in PNC Financial Services Group by 8.9% during the first quarter. American Century Companies Inc. now owns 4,353,354 shares of the financial services provider’s stock valued at $533,982,000 after acquiring an additional 357,041 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in PNC Financial Services Group by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after acquiring an additional 323,714 shares in the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

PNC traded down $3.33 during trading on Friday, hitting $123.09. The company’s stock had a trading volume of 1,533,207 shares, compared to its average volume of 2,116,071. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $147.00. The business’s fifty day simple moving average is $136.25 and its 200 day simple moving average is $131.34. The firm has a market capitalization of $56.29 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.65 and a beta of 1.07.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period last year, the company earned $2.72 earnings per share. PNC Financial Services Group’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that PNC Financial Services Group Inc will post 11.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were issued a $1.15 dividend. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, July 18th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.95%.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $138.41, for a total value of $692,050.00. Following the sale, the insider now directly owns 52,417 shares of the company’s stock, valued at $7,255,036.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Stacy M. Juchno sold 710 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $141.90, for a total value of $100,749.00. Following the completion of the sale, the executive vice president now directly owns 4,583 shares in the company, valued at $650,327.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,242 shares of company stock worth $19,853,468. 0.37% of the stock is owned by corporate insiders.

PNC has been the subject of several recent research reports. Morgan Stanley set a $141.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a research report on Friday, August 9th. ValuEngine cut PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $143.41.

PNC Financial Services Group Company Profile

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.

See Also: How to Use a Moving Average for Trading 

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

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

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.