Cutler Investment Counsel LLC Reduces Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cutler Investment Counsel LLC decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 49,801 shares of the financial services provider’s stock after selling 1,327 shares during the period. Cutler Investment Counsel LLC’s holdings in The PNC Financial Services Group were worth $9,206,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $33,000. Finally, Valley Wealth Managers Inc. increased its holdings in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC traded down $0.28 during midday trading on Friday, reaching $207.68. The company’s stock had a trading volume of 2,511,633 shares, compared to its average volume of 1,874,656. The PNC Financial Services Group, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19. The company has a fifty day simple moving average of $188.25 and a 200 day simple moving average of $172.80. The stock has a market cap of $82.40 billion, a P/E ratio of 17.56, a PEG ratio of 2.21 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 data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.46 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PNC. Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Stephens boosted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $186.96.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at $97,929,359.45. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was 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 owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % 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.

The PNC Financial Services Group Company 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.