Alpha DNA Investment Management LLC Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Alpha DNA Investment Management LLC decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,864 shares of the financial services provider’s stock after selling 365 shares during the quarter. The PNC Financial Services Group comprises 0.8% of Alpha DNA Investment Management LLC’s holdings, making the stock its 15th largest position. Alpha DNA Investment Management LLC’s holdings in The PNC Financial Services Group were worth $2,193,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in The PNC Financial Services Group by 7.6% in the third quarter. Larson Financial Group LLC now owns 12,908 shares of the financial services provider’s stock valued at $2,386,000 after acquiring an additional 909 shares during the last quarter. Swedbank AB lifted its holdings in The PNC Financial Services Group by 0.4% during the 3rd quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock worth $39,214,000 after buying an additional 855 shares in the last quarter. Pitcairn Co. raised its stake in shares of The PNC Financial Services Group by 13.0% in the third quarter. Pitcairn Co. now owns 7,237 shares of the financial services provider’s stock valued at $1,338,000 after acquiring an additional 830 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of The PNC Financial Services Group by 38.2% in the 3rd quarter. Cerity Partners LLC now owns 121,379 shares of the financial services provider’s stock valued at $22,437,000 after buying an additional 33,540 shares during the period. Finally, Great Valley Advisor Group Inc. grew its holdings in The PNC Financial Services Group by 3.0% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,989 shares of the financial services provider’s stock worth $1,477,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 2.1 %

The PNC Financial Services Group stock opened at $210.07 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $127.15 and a 1-year high of $214.19. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50 day moving average price is $191.01 and its 200 day moving average price is $174.71. The company has a market cap of $83.35 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.60 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock worth $5,317,200 in the last quarter. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PNC shares. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. 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 note on Wednesday, October 16th. Finally, Stephens lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $186.96.

The PNC Financial Services Group 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.