Sheaff Brock Investment Advisors LLC Has $774,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sheaff Brock Investment Advisors LLC cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,185 shares of the financial services provider’s stock after selling 100 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PNC. M&G Plc acquired a new position in shares of The PNC Financial Services Group in the 1st quarter worth approximately $5,945,000. First Foundation Advisors increased its holdings in The PNC Financial Services Group by 2.8% during the 1st quarter. First Foundation Advisors now owns 3,006 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 83 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in The PNC Financial Services Group by 9.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 3,527 shares of the financial services provider’s stock valued at $569,000 after purchasing an additional 306 shares in the last quarter. Intech Investment Management LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at $292,000. Finally, Spirepoint Private Client LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter valued at $375,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm’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 sale, the chief executive officer now owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,546 shares of company stock valued at $5,277,493. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PNC shares. Stephens raised their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI raised their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price target 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. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods increased their price objective on 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Stock Down 0.1 %

NYSE:PNC opened at $207.68 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $82.40 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.21 and a beta of 1.13. The stock’s fifty day simple moving average is $188.25 and its 200-day simple moving average is $172.80.

The PNC Financial Services Group (NYSE:PNC) last posted 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 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 analyst estimates of $5.39 billion. During the same period last year, the company earned $3.60 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Equities 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 Announces Dividend

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

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.