Carret Asset Management LLC Has $5.20 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Carret Asset Management LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,150 shares of the financial services provider’s stock after selling 650 shares during the quarter. Carret Asset Management LLC’s holdings in The PNC Financial Services Group were worth $5,204,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PNC. ORG Partners LLC boosted its stake in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the second quarter worth $26,000. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at $28,000. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth about $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 1.7 %

Shares of PNC stock opened at $185.82 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $110.79 and a 12 month high of $196.64. The company has a market cap of $73.94 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. 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 business’s 50 day moving average is $182.56 and its two-hundred day moving average is $168.19.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business 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 PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.60 EPS. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Analysts Set New Price Targets

Several research firms have weighed in on PNC. UBS Group lifted their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Stephens boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Barclays boosted their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Citigroup increased their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Two investment 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 company currently has a consensus rating of “Hold” and a consensus target price of $185.71.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,279 shares of company stock worth $4,395,540 in the last 90 days. 0.42% of the stock is owned by company insiders.

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.