The PNC Financial Services Group, Inc $PNC Stock: VestGen Advisors LLC Reduces Stake

VestGen Advisors LLC lessened its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 65.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,113 shares of the financial services provider’s stock after selling 7,694 shares during the period. VestGen Advisors LLC’s holdings in The PNC Financial Services Group were worth $914,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Highland Investment Advisors LLC acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $28,000. Archer Investment Corp acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $33,000. Wilkerson Advisory Group LLC increased its position in shares of The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $37,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 1.7%

PNC opened at $227.88 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $177.08 and a fifty-two week high of $258.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $90.91 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.18 and a beta of 0.94. The stock has a fifty day moving average of $230.03 and a 200-day moving average of $228.88.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.35 EPS. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 19.22 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, October 14th. The PNC Financial Services Group’s payout ratio is 42.58%.

Insiders Place Their Bets

In related news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Argus increased their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Jefferies Financial Group cut their price target on The PNC Financial Services Group from $305.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Morgan Stanley cut their price target on The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating on the stock in a report on Friday, October 16th. HSBC upped their price objective on The PNC Financial Services Group from $275.00 to $283.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Finally, Citigroup decreased their price objective on The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating for the company in a report on Monday, October 19th. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.17.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.