Main Street Financial Solutions LLC Has $325,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Main Street Financial Solutions LLC trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,760 shares of the financial services provider’s stock after selling 654 shares during the period. Main Street Financial Solutions LLC’s holdings in The PNC Financial Services Group were worth $325,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PNC. International Assets Investment Management LLC increased its stake in shares of The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after buying an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in The PNC Financial Services Group by 152.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after acquiring an additional 276,200 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after acquiring an additional 262,654 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of The PNC Financial Services Group by 5,419.9% during the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after purchasing an additional 254,356 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNC. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Barclays raised their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $207.96 on Friday. The stock has a 50 day simple moving average of $187.09 and a 200 day simple moving average of $172.19. The PNC Financial Services Group, Inc. has a 52-week low of $126.41 and a 52-week high of $214.19. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $82.51 billion, a PE ratio of 17.58, a P/E/G ratio of 2.21 and a beta of 1.13.

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 for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current fiscal 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 issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,546 shares of company stock worth $5,277,493. Corporate insiders own 0.42% of the company’s stock.

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.