IFP Advisors Inc Has $1.55 Million Stake in PNC Financial Services Group Inc (PNC)

IFP Advisors Inc reduced its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,385 shares of the financial services provider’s stock after selling 1,744 shares during the quarter. IFP Advisors Inc’s holdings in PNC Financial Services Group were worth $1,551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in PNC Financial Services Group by 18.2% in the second quarter. Toronto Dominion Bank now owns 310,829 shares of the financial services provider’s stock valued at $41,984,000 after buying an additional 47,843 shares in the last quarter. Banque Pictet & Cie SA boosted its stake in PNC Financial Services Group by 10.1% in the second quarter. Banque Pictet & Cie SA now owns 12,868 shares of the financial services provider’s stock valued at $1,738,000 after buying an additional 1,183 shares in the last quarter. Cardinal Capital Management Inc. boosted its stake in PNC Financial Services Group by 6.1% in the third quarter. Cardinal Capital Management Inc. now owns 69,510 shares of the financial services provider’s stock valued at $9,467,000 after buying an additional 4,000 shares in the last quarter. California Public Employees Retirement System boosted its stake in PNC Financial Services Group by 0.4% in the second quarter. California Public Employees Retirement System now owns 1,311,395 shares of the financial services provider’s stock valued at $177,169,000 after buying an additional 5,470 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in PNC Financial Services Group by 21.2% in the second quarter. Stephens Inc. AR now owns 21,911 shares of the financial services provider’s stock valued at $2,960,000 after buying an additional 3,828 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $140.49, for a total value of $3,471,507.90. Following the completion of the transaction, the executive vice president now directly owns 131,020 shares in the company, valued at $18,406,999.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.



PNC Financial Services Group stock opened at $122.16 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.18 and a beta of 0.92. PNC Financial Services Group Inc has a 12 month low of $116.55 and a 12 month high of $163.59.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.32 billion. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. During the same period last year, the company earned $2.16 earnings per share. On average, research analysts anticipate that PNC Financial Services Group Inc will post 10.76 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be given a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $3.80 annualized dividend and a yield of 3.11%. PNC Financial Services Group’s dividend payout ratio is presently 44.71%.

PNC has been the topic of several research analyst reports. ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Morgan Stanley reduced their price objective on PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, October 15th. Deutsche Bank raised PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday, October 15th. Sanford C. Bernstein raised PNC Financial Services Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $158.00 to $145.00 in a research note on Monday, October 15th. Finally, BMO Capital Markets dropped their target price on PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a research report on Monday, October 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $154.62.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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