Strategic Wealth Partners Ltd. Sells 1,467 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Strategic Wealth Partners Ltd. decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,135 shares of the financial services provider’s stock after selling 1,467 shares during the period. The PNC Financial Services Group comprises about 0.9% of Strategic Wealth Partners Ltd.’s investment portfolio, making the stock its 28th biggest position. Strategic Wealth Partners Ltd.’s holdings in The PNC Financial Services Group were worth $9,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PNC. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC boosted its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at $29,000. Finally, Fortis Group Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.8 %

Shares of PNC opened at $180.82 on Wednesday. The firm’s 50-day moving average price is $178.16 and its 200-day moving average price is $165.43. The firm has a market capitalization of $71.95 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.97 and a beta of 1.14. 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 PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the company posted $3.36 EPS. The PNC Financial Services Group’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.15 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.54%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Barclays increased their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. UBS Group raised 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 report on Wednesday, July 17th. Finally, The Goldman Sachs Group cut 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 report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $177.65.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 dated 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 of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,662 shares of company stock valued at $4,420,820 in the last three months. Company insiders own 0.42% of the company’s stock.

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.