Brookstone Capital Management Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brookstone Capital Management trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,486 shares of the financial services provider’s stock after selling 153 shares during the quarter. Brookstone Capital Management’s holdings in The PNC Financial Services Group were worth $2,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Integrated Advisors Network LLC raised its holdings in shares of The PNC Financial Services Group by 7.3% during the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 148 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in The PNC Financial Services Group in the 2nd quarter worth $822,000. Equity Investment Corp lifted its position in shares of The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after purchasing an additional 22,188 shares during the period. DRW Securities LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $1,476,000. Finally, Duality Advisers LP increased its position in shares of The PNC Financial Services Group by 108.5% during the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after buying an additional 10,743 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 2.4 %

NYSE:PNC opened at $187.76 on Friday. The stock has a market cap of $74.63 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 2.01 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company’s 50 day moving average price is $178.68 and its 200-day moving average price is $166.08. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $189.17.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating 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 business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the business posted $3.36 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.41%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.60%.

Insider Activity

In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group 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 owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at approximately $101,233,217.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,420 shares of company stock valued at $4,212,785 in the last 90 days. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on PNC shares. Royal Bank of Canada raised their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Evercore ISI upped their price target on The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Finally, UBS Group upped their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $177.65.

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.