The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Wescott Financial Advisory Group LLC

Wescott Financial Advisory Group LLC reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 36.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,726 shares of the financial services provider’s stock after selling 1,533 shares during the quarter. Wescott Financial Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $504,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group during the second quarter worth about $26,000. ORG Partners LLC lifted its stake in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC purchased a new stake in The PNC Financial Services Group during the first quarter worth approximately $28,000. Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group during the second quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. lifted its stake in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $210.07 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $127.15 and a 12 month high of $214.19. 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 business has a 50 day simple moving average of $191.01 and a 200-day simple moving average of $174.71. The stock has a market capitalization of $83.35 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.

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

The PNC Financial Services Group Announces Dividend

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 dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Analyst Ratings Changes

Several research firms recently weighed in on PNC. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI boosted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their target price on 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. Finally, Barclays boosted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $186.96.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was 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 of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock valued at $5,317,200 over the last quarter. Company insiders own 0.42% of the company’s stock.

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.