Provident Trust Co. Buys 5,638 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Provident Trust Co. lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,194,527 shares of the financial services provider's stock after acquiring an additional 5,638 shares during the quarter. The PNC Financial Services Group accounts for 7.3% of Provident Trust Co.'s portfolio, making the stock its 6th largest position. Provident Trust Co. owned about 0.55% of The PNC Financial Services Group worth $405,658,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PNC. Norden Group LLC boosted its position in shares of The PNC Financial Services Group by 52.6% during the first quarter. Norden Group LLC now owns 2,630 shares of the financial services provider's stock valued at $425,000 after buying an additional 907 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in The PNC Financial Services Group by 2.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 37,512 shares of the financial services provider's stock valued at $6,062,000 after acquiring an additional 810 shares during the last quarter. AIA Group Ltd purchased a new stake in The PNC Financial Services Group in the first quarter worth $651,000. Empowered Funds LLC lifted its position in shares of The PNC Financial Services Group by 8.7% during the first quarter. Empowered Funds LLC now owns 5,322 shares of the financial services provider's stock worth $860,000 after purchasing an additional 426 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at $441,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on 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 sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Martin Pfinsgraff sold 859 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was 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 owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,279 shares of company stock worth $2,442,673 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.4 %

NYSE:PNC traded up $0.76 during midday trading on Friday, reaching $203.97. 1,888,935 shares of the stock traded hands, compared to its average volume of 1,869,772. The stock has a market capitalization of $80.93 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $118.56 and a 12-month high of $205.20. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The business has a 50-day moving average of $185.53 and a two-hundred day moving average of $170.98.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter last year, the firm earned $3.60 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.14%. The PNC Financial Services Group's payout ratio is 54.10%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNC. Royal Bank of Canada raised their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 17th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Finally, Evercore ISI lifted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Two 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. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and a consensus price target of $185.71.

The PNC Financial Services Group Company 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.