Middleton & Co. Inc. MA Has $1.49 Million Stake in The PNC Financial Services Group, Inc $PNC

Middleton & Co. Inc. MA decreased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,993 shares of the financial services provider’s stock after selling 405 shares during the quarter. Middleton & Co. Inc. MA’s holdings in The PNC Financial Services Group were worth $1,490,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ignite Planners LLC raised its holdings in 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 valued at $262,000 after acquiring an additional 126 shares in the last quarter. United Community Bank increased its holdings in 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 valued at $2,166,000 after buying an additional 10,759 shares during the period. Rogco LP acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $429,000. Cerity Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 6.3% during the 1st quarter. Cerity Partners LLC now owns 130,126 shares of the financial services provider’s stock worth $22,872,000 after acquiring an additional 7,677 shares during the period. Finally, HB Wealth Management LLC boosted its position in shares of The PNC Financial Services Group by 18.8% during the 1st quarter. HB Wealth Management LLC now owns 51,133 shares of the financial services provider’s stock worth $8,988,000 after acquiring an additional 8,077 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research analyst reports. 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 note on Tuesday, September 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Raymond James Financial boosted their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Bank of America lifted their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $218.47.

Insider Activity

In other news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,151 shares of company stock worth $400,092. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $183.08 on Friday. The firm has a market capitalization of $72.10 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.26 and a beta of 1.12. The stock’s 50 day moving average is $194.27 and its 200-day moving average is $186.67. 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 PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

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

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

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.