Moors & Cabot Inc. Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Moors & Cabot Inc. lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 37.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,626 shares of the financial services provider's stock after selling 9,350 shares during the period. Moors & Cabot Inc.'s holdings in The PNC Financial Services Group were worth $2,888,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. ORG Partners LLC boosted its stake in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock worth $26,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the first quarter valued at approximately $28,000. Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the second quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. grew its stake in shares of The PNC Financial Services Group by 20,000.0% during the 3rd 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 during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the transaction, the chief executive officer now owns 554,701 shares of the company's stock, valued at $101,604,582.17. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,788 shares of company stock worth $5,535,978. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 1.7 %

NYSE PNC traded up $3.37 during mid-day trading on Thursday, hitting $207.32. The company's stock had a trading volume of 758,033 shares, compared to its average volume of 1,867,400. 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 PNC Financial Services Group, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19. The firm has a market capitalization of $82.26 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.14 and a beta of 1.13. The company's 50 day simple moving average is $189.79 and its 200 day simple moving average is $173.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.60 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors 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 yield of 3.09%. The PNC Financial Services Group's payout ratio is 54.10%.

Analysts Set New Price Targets

Several research firms recently weighed in on PNC. Compass Point lowered shares of The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. Bank of America raised shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating for the company in a research report 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 given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $186.96.

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.