The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by MAI Capital Management

MAI Capital Management cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 39.8% in the third quarter, Holdings Channel.com reports. The firm owned 10,465 shares of the financial services provider’s stock after selling 6,919 shares during the quarter. MAI Capital Management’s holdings in The PNC Financial Services Group were worth $1,934,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the last quarter. Legal & General Group Plc grew its position in The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after acquiring an additional 223,955 shares during the period. Principal Financial Group Inc. increased its stake in The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after acquiring an additional 22,271 shares during the last quarter. Dimensional Fund Advisors LP raised its position in The PNC Financial Services Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after purchasing an additional 100,993 shares during the period. Finally, Provident Trust Co. lifted its stake in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,194,527 shares of the financial services provider’s stock valued at $405,658,000 after purchasing an additional 5,638 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.4 %

Shares of NYSE:PNC opened at $203.95 on Thursday. The company has a 50 day moving average of $189.79 and a two-hundred day moving average of $173.99. The company has a market capitalization of $80.92 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $127.08 and a 52-week high of $214.19. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm posted $3.60 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock worth $5,535,978 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Stephens upped their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Barclays increased their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $186.96.

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.