Orion Porfolio Solutions LLC Sells 3,830 Shares of The PNC Financial Services Group, Inc $PNC

Orion Porfolio Solutions LLC reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,621 shares of the financial services provider’s stock after selling 3,830 shares during the period. Orion Porfolio Solutions LLC’s holdings in The PNC Financial Services Group were worth $10,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 170 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 1,449 shares in the last quarter. Freestone Capital Holdings LLC bought a new position in The PNC Financial Services Group during the 2nd quarter valued at about $217,000. Finally, NewSquare Capital LLC boosted its position in The PNC Financial Services Group by 194.3% in the second quarter. NewSquare Capital LLC now owns 312 shares of the financial services provider’s stock valued at $58,000 after buying an additional 206 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares in the company, valued at $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the transaction, the executive vice president directly owned 1,942 shares in the company, valued at approximately $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 64,186 shares of company stock valued at $14,840,973. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.7%

NYSE PNC opened at $212.32 on Friday. The stock has a market capitalization of $85.64 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 0.89 and a beta of 0.98. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $222.32 and a 200-day moving average of $204.93.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.77 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Analyst Ratings Changes

Several analysts have recently weighed in on PNC shares. Barclays raised their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley raised their price target on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price objective on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.