Great Lakes Retirement Inc. Sells 251 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Great Lakes Retirement Inc. cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,462 shares of the financial services provider’s stock after selling 251 shares during the quarter. Great Lakes Retirement Inc.’s holdings in The PNC Financial Services Group were worth $2,488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $26,000. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the period. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at about $33,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.0 %

NYSE PNC opened at $188.21 on Thursday. The stock has a market cap of $74.81 billion, a PE ratio of 15.91, a PEG ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64. The company’s 50-day moving average price is $181.96 and its 200-day moving average price is $167.82. The company has a current ratio of 0.81, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm earned $3.60 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.40%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PNC shares. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Citigroup boosted their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $185.71.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares in the company, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the sale, the chief executive officer now directly owns 560,911 shares of the company’s stock, valued at $101,233,217.28. 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 is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,662 shares of company stock worth $4,459,819. 0.42% of the stock is currently owned by company insiders.

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.