CFS Investment Advisory Services LLC Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

CFS Investment Advisory Services LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 49.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,403 shares of the financial services provider’s stock after selling 3,361 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $629,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bank & Trust Co purchased a new position in The PNC Financial Services Group during the second quarter worth about $26,000. ORG Partners LLC increased its stake in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth approximately $28,000. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. raised 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 period. 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, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the transaction, the chief executive officer now directly owns 548,491 shares of the company’s stock, valued at approximately $99,468,842.85. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock worth $5,317,200 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PNC shares. Barclays raised their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price objective 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. Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Trading Up 2.1 %

NYSE:PNC opened at $210.07 on Friday. The business’s 50 day moving average is $191.01 and its two-hundred day moving average is $174.58. The PNC Financial Services Group, Inc. has a 52 week low of $127.15 and a 52 week high of $214.19. The company has a market cap of $83.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.15 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued 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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the company earned $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders 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 dividend on an annualized basis and a yield of 3.05%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.