Robecosam AG Cuts Stake in PNC Financial Services Group Inc (NYSE:PNC)

Robecosam AG lowered its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 71,038 shares of the financial services provider’s stock after selling 5,305 shares during the period. Robecosam AG’s holdings in PNC Financial Services Group were worth $9,973,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Westside Investment Management Inc. purchased a new position in PNC Financial Services Group during the 2nd quarter valued at approximately $29,000. Redhawk Wealth Advisors Inc. purchased a new position in PNC Financial Services Group during the 2nd quarter valued at approximately $40,000. Old North State Trust LLC grew its holdings in PNC Financial Services Group by 108.8% during the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after buying an additional 160 shares in the last quarter. Smith Asset Management Group LP grew its holdings in PNC Financial Services Group by 508.5% during the 2nd quarter. Smith Asset Management Group LP now owns 359 shares of the financial services provider’s stock valued at $49,000 after buying an additional 300 shares in the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new position in PNC Financial Services Group during the 2nd quarter valued at approximately $55,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

PNC has been the subject of several research analyst reports. Morgan Stanley set a $141.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a report on Friday, August 9th. Wells Fargo & Co raised their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a report on Thursday. ValuEngine cut PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Robert W. Baird set a $141.00 price target on PNC Financial Services Group and gave the company a “buy” rating in a report on Monday, August 26th. Finally, UBS Group raised their price target on PNC Financial Services Group from $139.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $143.32.

Shares of PNC Financial Services Group stock opened at $143.52 on Friday. The stock has a market cap of $63.52 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.90 and a current ratio of 0.89. The stock has a 50 day moving average price of $137.59 and a 200-day moving average price of $134.56. PNC Financial Services Group Inc has a one year low of $108.45 and a one year high of $144.70.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.14. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 EPS. Sell-side analysts predict that PNC Financial Services Group Inc will post 11.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is 42.95%.

In related news, Director Charles E. Bunch bought 1,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $124.38 per share, for a total transaction of $124,380.00. Following the acquisition, the director now owns 3,781 shares in the company, valued at $470,280.78. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 17,132 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $135.11, for a total value of $2,314,704.52. Following the completion of the transaction, the chief executive officer now owns 507,979 shares of the company’s stock, valued at approximately $68,633,042.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,374 shares of company stock valued at $20,769,972. Company insiders own 0.37% of the company’s stock.

PNC Financial Services Group Profile

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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