Park National Corp OH Sells 3,620 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Park National Corp OH lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 32,531 shares of the financial services provider’s stock after selling 3,620 shares during the quarter. Park National Corp OH’s holdings in The PNC Financial Services Group were worth $6,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNC. Capital Research Global Investors grew its holdings in The PNC Financial Services Group by 19.5% in the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after acquiring an additional 778,264 shares during the last quarter. Jennison Associates LLC grew its stake in shares of The PNC Financial Services Group by 38.4% in the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after purchasing an additional 291,769 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after purchasing an additional 276,200 shares during the period. Hsbc Holdings PLC raised its holdings in shares of The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after acquiring an additional 262,654 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of several research reports. Citigroup lifted their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, UBS Group lifted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $177.65.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $179.40 on Thursday. The firm has a market capitalization of $71.31 billion, a PE ratio of 15.06, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a 50 day moving average price of $178.14 and a 200-day moving average price of $164.75. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm earned $3.36 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the transaction, the chief executive officer now owns 567,041 shares in the company, valued at approximately $89,649,182.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares in the company, valued at $89,649,182.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the sale, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,465 shares of company stock valued at $4,681,565. Insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.