Boston Private Wealth LLC Trims Stock Position in PNC Financial Services Group Inc (NYSE:PNC)

Boston Private Wealth LLC cut its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,204 shares of the financial services provider’s stock after selling 96 shares during the quarter. Boston Private Wealth LLC’s holdings in PNC Financial Services Group were worth $2,131,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Institute for Wealth Management LLC. lifted its stake in PNC Financial Services Group by 3.6% during the second quarter. Institute for Wealth Management LLC. now owns 2,902 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 101 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of PNC Financial Services Group by 2.9% in the 2nd quarter. Moors & Cabot Inc. now owns 11,036 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 311 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of PNC Financial Services Group by 31.8% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 4,166 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 1,006 shares in the last quarter. Park National Corp OH increased its stake in shares of PNC Financial Services Group by 9.6% in the 2nd quarter. Park National Corp OH now owns 74,862 shares of the financial services provider’s stock worth $10,277,000 after purchasing an additional 6,529 shares in the last quarter. Finally, Tiverton Asset Management LLC increased its stake in shares of PNC Financial Services Group by 21.4% in the 2nd quarter. Tiverton Asset Management LLC now owns 20,769 shares of the financial services provider’s stock worth $2,851,000 after purchasing an additional 3,665 shares in the last quarter. 80.68% of the stock is currently owned by institutional investors.

Several equities research analysts have recently commented on the company. Barclays set a $158.00 price objective on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Thursday, October 17th. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Morgan Stanley upped their price objective on PNC Financial Services Group from $141.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Zacks Investment Research lowered PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price objective for the company. in a research note on Tuesday, October 1st. Finally, Wells Fargo & Co upped their price objective on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $146.20.

NYSE PNC traded down $0.59 during trading on Friday, hitting $152.48. The stock had a trading volume of 397,743 shares, compared to its average volume of 1,544,125. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market capitalization of $67.25 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.83 and a beta of 1.14. PNC Financial Services Group Inc has a one year low of $108.45 and a one year high of $154.75. The stock has a 50 day simple moving average of $143.15 and a 200 day simple moving average of $136.38.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.14. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 earnings per share. On average, sell-side analysts predict that PNC Financial Services Group Inc will post 11.33 EPS for the current year.

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

In other PNC Financial Services Group news, Director Charles E. Bunch acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $124.38 per share, with a total value of $124,380.00. Following the completion of the acquisition, the director now directly owns 3,781 shares in the company, valued at approximately $470,280.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 17,132 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $135.11, for a total transaction of $2,314,704.52. Following the transaction, the chief executive officer now directly owns 507,979 shares in the company, valued at $68,633,042.69. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

About PNC Financial Services Group

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.

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

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