Stifel Financial Corp Decreases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Stifel Financial Corp lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 523,740 shares of the financial services provider's stock after selling 6,217 shares during the quarter. Stifel Financial Corp owned 0.13% of The PNC Financial Services Group worth $96,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PNC. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock valued at $26,000 after buying an additional 110 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $33,000. Valley Wealth Managers Inc. raised its position 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 in the last quarter. GPS Wealth Strategies Group LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $38,000. Finally, Quarry LP raised its position in shares of The PNC Financial Services Group by 141.7% during the 2nd 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. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company's stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction 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, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,788 shares of company stock valued at $5,613,814. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC traded down $0.21 during trading hours on Friday, reaching $208.62. 1,485,940 shares of the company traded hands, compared to its average volume of 1,868,289. The company's fifty day moving average price is $196.11 and its two-hundred day moving average price is $177.92. The company has a market capitalization of $82.78 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.15. 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 PNC Financial Services Group, Inc. has a 12 month low of $139.19 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for 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 company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.60 EPS. Equities research analysts predict 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 business also recently announced 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is 54.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PNC shares. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. 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 company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Hold" and a consensus price target of $195.84.

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.