Granite Group Advisors LLC Has $2.86 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Granite Group Advisors LLC decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 15,443 shares of the financial services provider’s stock after selling 182 shares during the quarter. The PNC Financial Services Group comprises about 1.8% of Granite Group Advisors LLC’s holdings, making the stock its 7th biggest position. Granite Group Advisors LLC’s holdings in The PNC Financial Services Group were worth $2,855,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $26,000. ORG Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth about $28,000. Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group in the 2nd quarter valued at $33,000. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PNC shares. Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Trading Down 0.1 %

PNC traded down $0.13 during midday trading on Friday, hitting $203.08. The company’s stock had a trading volume of 79,884 shares, compared to its average volume of 1,861,435. The PNC Financial Services Group, Inc. has a 52-week low of $118.56 and a 52-week high of $205.06. The firm has a 50-day moving average price of $184.75 and a two-hundred day moving average price of $170.42. The firm has a market cap of $80.58 billion, a P/E ratio of 17.18, a PEG ratio of 1.98 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.60 EPS. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.15%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now directly owns 557,185 shares of the company’s stock, valued at approximately $95,724,383. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,279 shares of company stock worth $2,442,673. 0.42% of the stock is owned by company insiders.

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.