The PNC Financial Services Group, Inc $PNC Stock: Modera Wealth Management LLC Trims Position

Modera Wealth Management LLC trimmed its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,536 shares of the financial services provider’s stock after selling 3,180 shares during the quarter. Modera Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $31,236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. BlackRock Inc. acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $7,921,455,000. Bank of America Corp DE acquired a new position in The PNC Financial Services Group in the second quarter valued at $2,102,631,000. Deutsche Bank AG purchased a new stake in The PNC Financial Services Group during the second quarter valued at about $1,054,189,000. Jupiter Topco LLC purchased a new stake in The PNC Financial Services Group during the second quarter valued at about $756,877,000. Finally, Legal & General Group Plc purchased a new stake in The PNC Financial Services Group during the second quarter valued at about $669,168,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. This represents a 15.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.7%

Shares of The PNC Financial Services Group stock opened at $227.88 on Friday. The company has a fifty day moving average price of $230.03 and a 200 day moving average price of $228.88. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The PNC Financial Services Group, Inc has a twelve month low of $177.08 and a twelve month high of $258.96. The stock has a market cap of $90.91 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.35 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 42.58%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Evercore reduced their price objective on The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Royal Bank Of Canada decreased their target price on The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Stephens dropped their target price on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Finally, Barclays raised their price target on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.17.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.