Glenmede Trust Co. NA Sells 239 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Glenmede Trust Co. NA trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 492,244 shares of the financial services provider’s stock after selling 239 shares during the period. Glenmede Trust Co. NA owned 0.12% of The PNC Financial Services Group worth $90,991,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Concurrent Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at approximately $12,548,000. Bleakley Financial Group LLC lifted its holdings in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after buying an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of The PNC Financial Services Group in the second quarter worth $822,000. Finally, Manning & Napier Advisors LLC acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at $18,159,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,788 shares of company stock valued at $5,573,027. 0.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped 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 research report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $189.15.

The PNC Financial Services Group Price Performance

PNC opened at $214.26 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $192.29 and its 200-day simple moving average is $175.62. The PNC Financial Services Group, Inc. has a one year low of $127.49 and a one year high of $214.81. The stock has a market capitalization of $85.01 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.60 earnings per share. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 2.99%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

The PNC Financial Services Group 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.