PNC Financial Services Group Inc (NYSE:PNC) Shares Sold by Checchi Capital Advisers LLC

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Checchi Capital Advisers LLC lowered its stake in PNC Financial Services Group Inc (NYSE:PNC) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,896 shares of the financial services provider’s stock after selling 205 shares during the period. Checchi Capital Advisers LLC’s holdings in PNC Financial Services Group were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Westside Investment Management Inc. purchased a new position in shares of PNC Financial Services Group in the 2nd quarter valued at about $29,000. Liberty Wealth Management LLC increased its holdings in shares of PNC Financial Services Group by 112.8% in the 3rd quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of PNC Financial Services Group in the 3rd quarter valued at about $37,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of PNC Financial Services Group in the 2nd quarter valued at about $40,000. Finally, Old North State Trust LLC increased its holdings in shares of PNC Financial Services Group by 108.8% in the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 160 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors.

In related news, EVP Karen L. Larrimer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $152.29, for a total transaction of $304,580.00. Following the transaction, the executive vice president now owns 21,172 shares in the company, valued at approximately $3,224,283.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gregory B. Jordan sold 9,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $152.50, for a total value of $1,448,750.00. Following the transaction, the chief accounting officer now owns 48,725 shares in the company, valued at approximately $7,430,562.50. The disclosure for this sale can be found here. Insiders have sold a total of 168,032 shares of company stock worth $25,199,775 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

NYSE:PNC opened at $150.82 on Thursday. The stock’s 50 day moving average price is $144.21 and its 200 day moving average price is $136.83. The company has a market capitalization of $67.77 billion, a PE ratio of 14.08, a P/E/G ratio of 1.84 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.10. PNC Financial Services Group Inc has a 52-week low of $108.45 and a 52-week high of $154.75.

PNC Financial Services Group (NYSE:PNC) last released 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 firm 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 firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 EPS. As a group, sell-side analysts anticipate that PNC Financial Services Group Inc will post 11.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Thursday, October 17th were paid a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 dividend on an annualized basis and a yield of 3.05%. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

A number of research firms have recently commented on PNC. Barclays set a $158.00 price objective on PNC Financial Services Group and gave the company a “hold” rating in a report on Thursday, October 17th. Zacks Investment Research downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price objective on the stock. in a report on Tuesday, October 1st. UBS Group increased their price objective on PNC Financial Services Group from $142.00 to $146.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Morgan Stanley increased their price objective on PNC Financial Services Group from $141.00 to $157.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Co increased their price objective 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $146.20.

About PNC Financial Services Group

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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