Boenning & Scattergood Inc. Sells 640 Shares of PNC Financial Services Group Inc (NYSE:PNC)

Boenning & Scattergood Inc. trimmed its position in PNC Financial Services Group Inc (NYSE:PNC) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,973 shares of the financial services provider’s stock after selling 640 shares during the quarter. Boenning & Scattergood Inc.’s holdings in PNC Financial Services Group were worth $2,390,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Hoey Investments Inc. purchased a new position in shares of PNC Financial Services Group during the fourth quarter valued at approximately $32,000. West Oak Capital LLC boosted its holdings in shares of PNC Financial Services Group by 99.0% in the fourth quarter. West Oak Capital LLC now owns 201 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Liberty Wealth Management LLC boosted its holdings in shares of PNC Financial Services Group by 112.8% in the third quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 123 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of PNC Financial Services Group in the third quarter valued at approximately $37,000. Finally, Old North State Trust LLC boosted its holdings in shares of PNC Financial Services Group by 108.8% in the third quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 160 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PNC traded down $5.26 during trading hours on Wednesday, reaching $154.62. The company’s stock had a trading volume of 2,149,419 shares, compared to its average volume of 2,000,604. The company has a market capitalization of $70.60 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.62 and a beta of 1.15. PNC Financial Services Group Inc has a 12 month low of $117.17 and a 12 month high of $161.79. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a 50 day moving average price of $157.48 and a two-hundred day moving average price of $144.13.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.14. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. As a group, analysts predict that PNC Financial Services Group Inc will post 11.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Friday, January 17th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, January 16th. PNC Financial Services Group’s payout ratio is presently 42.95%.

In other news, EVP Joseph E. Rockey sold 10,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the transaction, the executive vice president now directly owns 18,453 shares of the company’s stock, valued at $2,675,685. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 129,400 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $152.10, for a total value of $19,681,740.00. Following the transaction, the chief executive officer now directly owns 370,790 shares in the company, valued at $56,397,159. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,623 shares of company stock worth $28,044,817. Insiders own 0.37% of the company’s stock.

A number of analysts recently issued reports on PNC shares. Wells Fargo & Co boosted their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a report on Wednesday, January 8th. Bank of America upgraded PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $144.00 to $178.00 in a report on Thursday, January 9th. Citigroup boosted their price target on PNC Financial Services Group from $139.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada lowered PNC Financial Services Group from a “top pick” rating to an “outperform” rating and set a $155.00 price target for the company. in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $153.91.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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