Avalon Trust Co Has $23.70 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Avalon Trust Co decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,134 shares of the financial services provider’s stock after selling 5,585 shares during the period. The PNC Financial Services Group comprises approximately 1.7% of Avalon Trust Co’s holdings, making the stock its 15th largest holding. Avalon Trust Co’s holdings in The PNC Financial Services Group were worth $23,700,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PNC. Brighton Jones LLC boosted 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 buying an additional 984 shares in the last quarter. CWM LLC lifted its holdings in shares of The PNC Financial Services Group by 50.4% during the 1st quarter. CWM LLC now owns 23,676 shares of the financial services provider’s stock worth $4,162,000 after acquiring an additional 7,931 shares during the period. Signaturefd LLC lifted its holdings in shares of The PNC Financial Services Group by 1.2% during the 1st quarter. Signaturefd LLC now owns 7,189 shares of the financial services provider’s stock worth $1,264,000 after acquiring an additional 82 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at about $607,000. Finally, Larson Financial Group LLC increased its stake in The PNC Financial Services Group by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,198 shares of the financial services provider’s stock valued at $2,847,000 after acquiring an additional 1,212 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,151 shares of company stock worth $400,092 in the last ninety days. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

PNC opened at $186.83 on Thursday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $192.57 and its 200-day simple moving average is $187.70. The stock has a market capitalization of $73.26 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the previous year, the company posted $3.49 EPS. The PNC Financial Services Group’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $240.00 price target (up previously from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Bank of America increased their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.47.

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.