PNC Financial Services Group Inc (NYSE:PNC) Stake Decreased by Principle Wealth Partners LLC

Principle Wealth Partners LLC lessened its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,183 shares of the financial services provider’s stock after selling 260 shares during the period. Principle Wealth Partners LLC’s holdings in PNC Financial Services Group were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new stake in PNC Financial Services Group during the second quarter worth approximately $29,000. Liberty Wealth Management LLC raised its holdings in PNC Financial Services Group by 112.8% during the third quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 123 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in PNC Financial Services Group during the third quarter worth approximately $37,000. Redhawk Wealth Advisors Inc. bought a new stake in PNC Financial Services Group during the second quarter worth approximately $40,000. Finally, Old North State Trust LLC raised its holdings in PNC Financial Services Group by 108.8% during the third quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 160 shares in the last quarter. 80.68% of the stock is currently owned by institutional investors.

In other PNC Financial Services Group news, EVP Joseph E. Rockey sold 10,000 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the transaction, the executive vice president now directly owns 18,453 shares in the company, valued at approximately $2,675,685. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles E. Bunch acquired 1,000 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $124.38 per share, for a total transaction of $124,380.00. Following the completion of the transaction, the director now owns 3,781 shares in the company, valued at approximately $470,280.78. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by corporate insiders.

Shares of NYSE PNC traded down $0.87 during trading on Friday, hitting $152.20. The company had a trading volume of 1,573,036 shares, compared to its average volume of 2,010,443. The company has a market cap of $67.25 billion, a P/E ratio of 14.21, a PEG ratio of 1.83 and a beta of 1.14. PNC Financial Services Group Inc has a 52 week low of $108.45 and a 52 week high of $154.75. The business’s 50-day moving average is $143.35 and its 200 day moving average is $136.47. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.14. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. On average, research analysts expect that PNC Financial Services Group Inc will post 11.33 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Thursday, October 17th were issued a $1.15 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 annualized dividend and a dividend yield of 3.02%. PNC Financial Services Group’s dividend payout ratio is currently 42.95%.

PNC has been the topic of several recent analyst reports. UBS Group boosted their target price on PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Zacks Investment Research cut PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 target price on the stock. in a report on Tuesday, October 1st. Wells Fargo & Co boosted their target price on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on PNC Financial Services Group from $147.50 to $155.50 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $146.20.

About PNC Financial Services Group

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.

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

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