First Trust Advisors LP Sells 16,440 Shares of PNC Financial Services Group Inc (NYSE:PNC)

First Trust Advisors LP trimmed its position in PNC Financial Services Group Inc (NYSE:PNC) by 3.3% in the third quarter, Holdings Channel reports. The fund owned 486,945 shares of the financial services provider’s stock after selling 16,440 shares during the quarter. First Trust Advisors LP’s holdings in PNC Financial Services Group were worth $68,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PNC. Westside Investment Management Inc. bought a new position in PNC Financial Services Group during the 2nd quarter worth $29,000. Liberty Wealth Management LLC raised its position in PNC Financial Services Group by 112.8% during the 3rd quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 123 shares during the last quarter. Venturi Wealth Management LLC bought a new position in PNC Financial Services Group during the 3rd quarter worth $37,000. Redhawk Wealth Advisors Inc. bought a new position in PNC Financial Services Group during the 2nd quarter worth $40,000. Finally, Old North State Trust LLC raised its position in PNC Financial Services Group by 108.8% during the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 80.68% of the company’s stock.

Shares of PNC Financial Services Group stock opened at $152.20 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average price of $143.35 and a two-hundred day moving average price of $136.47. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $154.75. The company has a market cap of $67.25 billion, a P/E ratio of 14.21, a PEG ratio of 1.83 and a beta of 1.14.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the business posted $2.82 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that PNC Financial Services Group Inc will post 11.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Thursday, October 17th were issued a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 dividend on an annualized basis and a yield of 3.02%. PNC Financial Services Group’s payout ratio is currently 42.95%.

PNC has been the subject of several analyst reports. Wells Fargo & Co raised their target price on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Barclays set a $158.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Thursday, October 17th. Zacks Investment Research lowered PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 target price for the company. in a research report on Tuesday, October 1st. Robert W. Baird set a $141.00 target price on PNC Financial Services Group and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, UBS Group raised their target price on PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $146.20.

In other PNC Financial Services Group news, EVP Joseph E. Rockey sold 10,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the completion of the sale, the executive vice president now directly owns 18,453 shares in the company, valued at approximately $2,675,685. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles E. Bunch bought 1,000 shares of PNC Financial Services Group stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $124.38 per share, with a total value of $124,380.00. Following the completion of the purchase, the director now owns 3,781 shares in the company, valued at $470,280.78. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Featured Article: Why Invest in High-Yield Dividend Stocks?

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.