Lowe Brockenbrough & Co. Inc. Has $9.10 Million Position in PNC Financial Services Group Inc (NYSE:PNC)

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Lowe Brockenbrough & Co. Inc. reduced its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 64,955 shares of the financial services provider’s stock after selling 368 shares during the period. PNC Financial Services Group makes up 1.2% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 17th largest holding. Lowe Brockenbrough & Co. Inc.’s holdings in PNC Financial Services Group were worth $9,104,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in PNC Financial Services Group during the second quarter worth approximately $29,000. Liberty Wealth Management LLC lifted its position in shares of PNC Financial Services Group by 112.8% during the third quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 123 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in PNC Financial Services Group in the third quarter valued at $37,000. Redhawk Wealth Advisors Inc. acquired a new stake in PNC Financial Services Group in the second quarter valued at $40,000. Finally, Old North State Trust LLC raised its holdings in PNC Financial Services Group by 108.8% in the third quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.

PNC has been the topic of several recent analyst reports. Odeon Capital Group assumed coverage on shares of PNC Financial Services Group in a report on Monday, November 25th. They issued a “hold” rating on the stock. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley reiterated a “hold” rating on shares of PNC Financial Services Group in a research note on Monday, November 18th. Robert W. Baird set a $141.00 target price on shares of PNC Financial Services Group and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Co upped their price target on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $144.17.

In other PNC Financial Services Group news, CEO William S. Demchak sold 17,132 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $135.11, for a total transaction of $2,314,704.52. Following the transaction, the chief executive officer now owns 507,979 shares in the company, valued at $68,633,042.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 129,400 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $152.10, for a total value of $19,681,740.00. Following the completion of the sale, the chief executive officer now directly owns 370,790 shares of the company’s stock, valued at $56,397,159. The disclosure for this sale can be found here. Insiders sold 171,755 shares of company stock valued at $25,765,522 over the last three months. 0.37% of the stock is owned by insiders.

PNC traded up $1.61 on Wednesday, reaching $151.35. The company had a trading volume of 1,680,547 shares, compared to its average volume of 1,977,819. The company has a fifty day moving average of $149.29 and a 200-day moving average of $138.64. The company has a market capitalization of $68.22 billion, a P/E ratio of 14.13, a PEG ratio of 1.85 and a beta of 1.14. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.10. PNC Financial Services Group Inc has a one year low of $108.45 and a one year high of $154.75.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the company earned $2.82 EPS. PNC Financial Services Group’s revenue was up 3.1% on a year-over-year basis. Research analysts predict that PNC Financial Services Group Inc will post 11.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Thursday, October 17th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

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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