The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Jmac Enterprises LLC

Jmac Enterprises LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,190 shares of the financial services provider’s stock after selling 403 shares during the period. Jmac Enterprises LLC’s holdings in The PNC Financial Services Group were worth $1,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PNC. International Assets Investment Management LLC grew its stake in shares of The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after purchasing an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. grew its position in The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after buying an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in The PNC Financial Services Group by 152.2% in 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 buying an additional 276,200 shares during the period. Hsbc Holdings PLC increased its stake in The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after buying an additional 262,654 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of The PNC Financial Services Group by 5,419.9% in the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after acquiring an additional 254,356 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.9 %

Shares of The PNC Financial Services Group stock opened at $203.11 on Thursday. The firm has a market cap of $80.59 billion, a PE ratio of 17.33, a P/E/G ratio of 1.98 and a beta of 1.13. 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, Inc. has a fifty-two week low of $118.56 and a fifty-two week high of $205.06. The business’s fifty day moving average is $184.75 and its two-hundred day moving average is $170.42.

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 company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company posted $3.60 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.15%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the 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 in the company, valued at $94,994,016.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,521 shares of company stock worth $2,653,950. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PNC shares. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Citigroup upped their price target 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. Finally, Stephens boosted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $185.71.

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.