Park Avenue Securities LLC Has $1.73 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Park Avenue Securities LLC lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,354 shares of the financial services provider’s stock after selling 1,607 shares during the period. Park Avenue Securities LLC’s holdings in The PNC Financial Services Group were worth $1,729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. ORG Partners LLC boosted its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $29,000. Finally, Fortis Group Advisors LLC increased its position in shares of The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $182.23 on Tuesday. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $187.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The business has a fifty day moving average price of $178.13 and a 200-day moving average price of $165.26. The company has a market capitalization of $72.44 billion, a PE ratio of 15.30, a PEG ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.15 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.51%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Activity

In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $176.67, for a total value of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares of the company’s stock, valued at $99,315,570.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock valued at $4,420,820 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup boosted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Barclays increased their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Evercore ISI increased their price target on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $177.65.

The PNC Financial Services Group 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.