The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Jmac Enterprises LLC

by · The Markets Daily

Jmac Enterprises LLC lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,190 shares of the financial services provider’s stock after selling 403 shares during the quarter. Jmac Enterprises LLC’s holdings in The PNC Financial Services Group were worth $1,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC grew its stake in shares of 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 purchasing an additional 110 shares during the period. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the second quarter worth $26,000. LRI Investments LLC purchased a new position in The PNC Financial Services Group during the first quarter valued at $28,000. Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the second quarter valued at $33,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth about $38,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.9 %

Shares of NYSE:PNC opened at $203.11 on Thursday. 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 company has a market capitalization of $80.59 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.98 and a beta of 1.13. The business has a 50-day moving average price of $184.75 and a 200 day moving average price of $170.42. The PNC Financial Services Group, Inc. has a 12-month low of $118.56 and a 12-month high of $205.06.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business posted $3.60 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.15%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. The Goldman Sachs Group decreased their price target 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 note on Wednesday, September 11th. Citigroup boosted their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays lifted their target price on shares of 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. Finally, Stephens increased 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $185.71.

Read Our Latest Research Report on PNC

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now directly owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s 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 transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,521 shares of company stock worth $2,653,950 in the last ninety days. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company Profile

(Free Report)

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.

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