Creative Planning Sells 49,511 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Creative Planning decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 41.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,872 shares of the financial services provider’s stock after selling 49,511 shares during the quarter. Creative Planning’s holdings in The PNC Financial Services Group were worth $10,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in The PNC Financial Services Group by 9.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,364 shares of the financial services provider’s stock worth $1,140,000 after purchasing an additional 645 shares in the last quarter. Bank of Nova Scotia boosted its stake in The PNC Financial Services Group by 31.6% during the fourth quarter. Bank of Nova Scotia now owns 51,763 shares of the financial services provider’s stock valued at $8,015,000 after buying an additional 12,437 shares during the period. Jones Financial Companies Lllp grew its position in The PNC Financial Services Group by 1.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,291 shares of the financial services provider’s stock worth $1,439,000 after buying an additional 114 shares in the last quarter. CWA Asset Management Group LLC increased its stake in The PNC Financial Services Group by 45.5% in the 4th quarter. CWA Asset Management Group LLC now owns 3,730 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 1,167 shares during the last quarter. Finally, NEOS Investment Management LLC boosted its position in shares of The PNC Financial Services Group by 47.3% during the 4th quarter. NEOS Investment Management LLC now owns 5,532 shares of the financial services provider’s stock valued at $857,000 after acquiring an additional 1,777 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PNC shares. 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. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Citigroup upped their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, UBS Group increased their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $176.90.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $179.95 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $178.10 and a 200-day moving average price of $164.65. The company has a market cap of $71.60 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the business posted $3.36 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The disclosure for this sale can be found here. Insiders sold 26,465 shares of company stock valued at $4,681,565 over the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Company 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.