Planning Capital Management Corp Sells 54 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Planning Capital Management Corp trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,927 shares of the financial services provider’s stock after selling 54 shares during the period. Planning Capital Management Corp’s holdings in The PNC Financial Services Group were worth $356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNC. Empowered Funds LLC raised its stake in shares of The PNC Financial Services Group by 8.7% during the first quarter. Empowered Funds LLC now owns 5,322 shares of the financial services provider’s stock valued at $860,000 after acquiring an additional 426 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of The PNC Financial Services Group by 3.1% during the first quarter. Kingsview Wealth Management LLC now owns 17,955 shares of the financial services provider’s stock valued at $2,902,000 after acquiring an additional 541 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of The PNC Financial Services Group by 1.8% during the first quarter. Orion Portfolio Solutions LLC now owns 44,457 shares of the financial services provider’s stock valued at $7,184,000 after acquiring an additional 796 shares during the last quarter. ProVise Management Group LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at about $203,000. Finally, Great Lakes Retirement Inc. raised its stake in shares of The PNC Financial Services Group by 61.3% during the first quarter. Great Lakes Retirement Inc. now owns 7,666 shares of the financial services provider’s stock valued at $1,239,000 after acquiring an additional 2,913 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. UBS Group increased their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Stephens increased their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $185.71.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock worth $5,490,869 over the last 90 days. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $209.27 on Thursday. The PNC Financial Services Group, Inc. has a fifty-two week low of $122.75 and a fifty-two week high of $214.19. The company has a 50 day simple moving average of $187.09 and a two-hundred day simple moving average of $172.19. The company has a market capitalization of $83.03 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the company posted $3.60 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.