National Pension Service Sells 66,620 Shares of The PNC Financial Services Group, Inc $PNC

National Pension Service cut its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,044,284 shares of the financial services provider’s stock after selling 66,620 shares during the period. National Pension Service’s holdings in The PNC Financial Services Group were worth $194,675,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PNC. Brighton Jones LLC raised its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the last quarter. CWM LLC lifted its stake in The PNC Financial Services Group by 50.4% during the 1st quarter. CWM LLC now owns 23,676 shares of the financial services provider’s stock valued at $4,162,000 after acquiring an additional 7,931 shares during the period. Signaturefd LLC boosted its holdings in shares of The PNC Financial Services Group by 1.2% during the 1st quarter. Signaturefd LLC now owns 7,189 shares of the financial services provider’s stock valued at $1,264,000 after acquiring an additional 82 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $607,000. Finally, Larson Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 8.1% during the first quarter. Larson Financial Group LLC now owns 16,198 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 1,212 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,151 shares of company stock worth $400,092. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $186.83 on Thursday. The business’s 50-day moving average is $192.57 and its 200 day moving average is $187.70. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a market capitalization of $73.26 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.26 and a beta of 1.12. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the firm earned $3.49 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Finally, Citigroup lifted their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average target price of $218.47.

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.