Commonwealth Retirement Investments LLC Sells 12,154 Shares of The PNC Financial Services Group, Inc $PNC

Commonwealth Retirement Investments LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 78.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,286 shares of the financial services provider’s stock after selling 12,154 shares during the period. Commonwealth Retirement Investments LLC’s holdings in The PNC Financial Services Group were worth $613,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Ignite Planners LLC raised its position in shares of The PNC Financial Services Group by 8.4% in the 1st quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 126 shares during the last quarter. Exane Asset Management raised its position in shares of The PNC Financial Services Group by 32.9% in the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock worth $28,434,000 after purchasing an additional 37,110 shares during the last quarter. United Community Bank raised its position in shares of The PNC Financial Services Group by 687.0% in the 1st quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock worth $2,166,000 after purchasing an additional 10,759 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 24.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 8,240 shares of the financial services provider’s stock worth $1,448,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Rogco LP purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $429,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $182.93 on Wednesday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The firm has a market capitalization of $72.04 billion, a P/E ratio of 11.82, a PEG ratio of 1.26 and a beta of 1.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $195.17 and a 200-day moving average price of $186.72.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PNC shares. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Citigroup boosted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Evercore ISI boosted their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, Raymond James Financial boosted their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $218.47.

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.