Park Place Capital Corp Cuts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Park Place Capital Corp trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,672 shares of the financial services provider’s stock after selling 474 shares during the period. Park Place Capital Corp’s holdings in The PNC Financial Services Group were worth $494,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Legacy Private Trust Co. acquired a new stake in The PNC Financial Services Group in the 3rd quarter worth about $217,000. Clean Yield Group boosted its holdings in The PNC Financial Services Group by 33.7% in the 3rd quarter. Clean Yield Group now owns 421 shares of the financial services provider’s stock worth $78,000 after buying an additional 106 shares during the last quarter. Axiom Advisory LLC boosted its holdings in The PNC Financial Services Group by 8.7% in the 3rd quarter. Axiom Advisory LLC now owns 3,712 shares of the financial services provider’s stock worth $651,000 after buying an additional 298 shares during the last quarter. Skyline Advisors Inc. acquired a new stake in The PNC Financial Services Group in the 3rd quarter worth about $211,000. Finally, Foresight Capital Management Advisors Inc. boosted its holdings in The PNC Financial Services Group by 7.6% in the 3rd quarter. Foresight Capital Management Advisors Inc. now owns 15,928 shares of the financial services provider’s stock worth $2,944,000 after buying an additional 1,119 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.1 %

Shares of The PNC Financial Services Group stock traded down $0.24 during trading hours on Tuesday, reaching $181.99. 277,305 shares of the company were exchanged, compared to its average volume of 1,854,221. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $187.78. The stock’s fifty day moving average is $178.16 and its 200 day moving average is $165.43. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $72.34 billion, a PE ratio of 15.23, a PEG ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $3.36 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.15 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Transactions at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. 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 this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. 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 this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the completion of the transaction, the chief executive officer now directly owns 562,153 shares in the company, valued at $99,315,570.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,662 shares of company stock valued at $4,420,820. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PNC. Royal Bank of Canada lifted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Barclays boosted their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Citigroup boosted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $177.65.

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.