PNC Financial Services Group Inc (NYSE:PNC) Position Decreased by Oakbrook Investments LLC

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Oakbrook Investments LLC cut its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 25.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,100 shares of the financial services provider’s stock after selling 7,175 shares during the quarter. Oakbrook Investments LLC’s holdings in PNC Financial Services Group were worth $2,957,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNC. Westside Investment Management Inc. acquired a new stake in shares of PNC Financial Services Group in the 2nd quarter valued at $29,000. Redhawk Wealth Advisors Inc. acquired a new stake in PNC Financial Services Group during the 2nd quarter worth $40,000. Old North State Trust LLC raised its stake in PNC Financial Services Group by 108.8% during the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 160 shares in the last quarter. Smith Asset Management Group LP raised its stake in PNC Financial Services Group by 508.5% during the 2nd quarter. Smith Asset Management Group LP now owns 359 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares in the last quarter. Finally, Prestige Wealth Management Group LLC acquired a new stake in PNC Financial Services Group during the 2nd quarter worth $55,000. Institutional investors own 80.68% of the company’s stock.

PNC traded down $0.87 during midday trading on Friday, reaching $152.20. 1,573,036 shares of the company’s stock were exchanged, compared to its average volume of 2,010,443. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $67.25 billion, a PE ratio of 14.21, a P/E/G ratio of 1.83 and a beta of 1.14. The business’s 50-day moving average price is $143.35 and its 200 day moving average price is $136.47. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $154.75.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.14. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.41 billion. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. As a group, analysts expect that PNC Financial Services Group Inc will post 11.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

In related news, CEO William S. Demchak sold 17,132 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $135.11, for a total value of $2,314,704.52. Following the completion of the sale, the chief executive officer now directly owns 507,979 shares in the company, valued at $68,633,042.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joseph E. Rockey sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the completion of the sale, the executive vice president now owns 18,453 shares of the company’s stock, valued at $2,675,685. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Several brokerages recently commented on PNC. Morgan Stanley lifted their price target on shares of PNC Financial Services Group from $141.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of PNC Financial Services Group from $147.50 to $155.50 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Robert W. Baird set a $141.00 price target on shares of PNC Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 26th. UBS Group lifted their price target on shares of PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Zacks Investment Research downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price objective on the stock. in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $146.20.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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