Empower Advisory Group LLC Sells 55 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Empower Advisory Group LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,252 shares of the financial services provider’s stock after selling 55 shares during the quarter. Empower Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Bank & Trust Co bought a new stake in The PNC Financial Services Group during the 2nd quarter worth about $26,000. ORG Partners LLC grew its holdings in 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 worth $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth about $28,000. Y.D. More Investments Ltd bought a new stake in The PNC Financial Services Group during the 2nd quarter worth about $33,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in The PNC Financial Services Group during the 2nd quarter worth about $38,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNC shares. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Stephens upped 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 report on Wednesday, October 16th. Keefe, Bruyette & Woods upped 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 report on Wednesday, October 16th. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Stock Down 0.1 %

PNC opened at $207.68 on Friday. The company has a market capitalization of $82.40 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.21 and a beta of 1.13. The stock has a fifty day moving average of $187.63 and a 200-day moving average of $172.44. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.08 and a fifty-two 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.60 earnings per share. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.46 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares in the company, valued at $104,052,553.99. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $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. Insiders sold a total of 26,546 shares of company stock valued at $5,277,493 over the last quarter. 0.42% of the stock is owned by corporate 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.