Triangle Securities Wealth Management Has $666,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Triangle Securities Wealth Management lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.8% in the third quarter, Holdings Channel.com reports. The firm owned 3,404 shares of the financial services provider’s stock after selling 210 shares during the quarter. Triangle Securities Wealth Management’s holdings in The PNC Financial Services Group were worth $666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. Cubist Systematic Strategies LLC grew its position in shares of The PNC Financial Services Group by 17.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 9,152 shares of the financial services provider’s stock valued at $1,605,000 after buying an additional 1,328 shares during the last quarter. Axiom Investment Management LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $211,000. B. Metzler seel. Sohn & Co. Holding AG boosted its position in shares of The PNC Financial Services Group by 6.0% during the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 15,788 shares of the financial services provider’s stock valued at $2,769,000 after purchasing an additional 894 shares in the last quarter. Sargent Bickham Lagudis LLC boosted its position in shares of The PNC Financial Services Group by 701.8% during the 1st quarter. Sargent Bickham Lagudis LLC now owns 457 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 400 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of The PNC Financial Services Group by 1,140.7% during the 1st quarter. Schroder Investment Management Group now owns 306,639 shares of the financial services provider’s stock valued at $53,787,000 after purchasing an additional 281,924 shares in the last quarter. 81.74% of the stock is owned by institutional investors and hedge funds.

NYSE:PNC opened at $208.63 on Thursday. The firm has a market capitalization of $88.18 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 0.84 and a beta of 1.38. The PNC Financial Services Group, Inc. has a 52-week low of $137.48 and a 52-week high of $217.60. The stock has a fifty day moving average of $203.12 and a 200 day moving average of $194.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, October 14th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.64 by $0.11. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.05 billion. The PNC Financial Services Group had a return on equity of 12.60% and a net margin of 30.94%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $3.39 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 14.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 5th. Investors of record on Friday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, October 14th. The PNC Financial Services Group’s dividend payout ratio is 38.20%.

PNC has been the topic of several research analyst reports. Barclays upped their target price on The PNC Financial Services Group from $203.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, October 18th. Morgan Stanley upped their target price on The PNC Financial Services Group from $192.00 to $193.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Bank of America lowered The PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research report on Friday, October 15th. Royal Bank of Canada upped their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 18th. Finally, Jefferies Financial Group upped their price target on The PNC Financial Services Group from $201.00 to $221.00 and gave the stock a “hold” rating in a research note on Monday, October 11th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $203.31.

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 125 shares of the firm’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $213.28, for a total transaction of $26,660.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $216.20, for a total value of $648,600.00. The disclosure for this sale can be found here. Insiders have sold 3,625 shares of company stock valued at $773,528 in the last three months. 0.30% of the stock is owned by corporate insiders.

About The PNC Financial Services Group

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

Further Reading: Intrinsic Value

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

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