HighTower Advisors LLC Has $73.59 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

HighTower Advisors LLC cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 398,043 shares of the financial services provider's stock after selling 8,559 shares during the period. HighTower Advisors LLC owned 0.10% of The PNC Financial Services Group worth $73,589,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC increased its holdings in shares of 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 purchasing an additional 110 shares during the period. Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at $33,000. Valley Wealth Managers Inc. boosted its stake in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock valued at $37,000 after buying an additional 200 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new position in The PNC Financial Services Group during the second quarter valued at about $38,000. Finally, Quarry LP boosted its stake in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider's stock valued at $45,000 after buying an additional 170 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company's stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the sale, the chief executive officer now directly owns 549,733 shares in the company, valued at $101,007,941.42. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,788 shares of company stock valued at $5,613,814. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. Bank of America raised The PNC Financial Services Group from a "neutral" rating to a "buy" rating and raised their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Morgan Stanley raised their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, October 16th. Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Citigroup raised their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Keefe, Bruyette & Woods increased their price target 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $193.96.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $1.10 during trading on Wednesday, hitting $207.91. The company's stock had a trading volume of 1,458,292 shares, compared to its average volume of 1,870,527. 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 50 day moving average price of $195.60 and a 200 day moving average price of $177.70. The firm has a market cap of $82.50 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.21 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 52 week low of $138.46 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.60 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

The PNC Financial Services Group Profile

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.