The PNC Financial Services Group, Inc $PNC Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 155,080 shares of the financial services provider’s stock after selling 417 shares during the period. Modera Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $28,910,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $27,000. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at about $27,000. Concord Wealth Partners grew its stake in shares of The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 65 shares during the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $36,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,151 shares of company stock worth $400,092. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 0.6%

Shares of PNC stock opened at $183.08 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a 50 day moving average price of $194.27 and a 200 day moving average price of $186.67. The stock has a market capitalization of $72.10 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued 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 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 during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter last year, the company posted $3.49 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PNC shares. Citigroup raised 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. Raymond James Financial boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Wall Street Zen raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, UBS Group increased their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.47.

About The PNC Financial Services Group

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.