Advisors Asset Management Inc. Cuts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Advisors Asset Management Inc. reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 27.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,152 shares of the financial services provider's stock after selling 17,439 shares during the period. Advisors Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $8,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PNC. UniSuper Management Pty Ltd grew its position in shares of The PNC Financial Services Group by 1,142.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,865 shares of the financial services provider's stock worth $948,000 after buying an additional 5,393 shares during the period. CreativeOne Wealth LLC increased its stake in shares of The PNC Financial Services Group by 182.7% in the 1st quarter. CreativeOne Wealth LLC now owns 4,283 shares of the financial services provider's stock valued at $692,000 after acquiring an additional 2,768 shares during the last quarter. Freestone Capital Holdings LLC boosted its position in shares of The PNC Financial Services Group by 223.2% during the first quarter. Freestone Capital Holdings LLC now owns 4,205 shares of the financial services provider's stock worth $680,000 after purchasing an additional 2,904 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of The PNC Financial Services Group by 18.3% in the first quarter. Axxcess Wealth Management LLC now owns 18,760 shares of the financial services provider's stock worth $3,032,000 after acquiring an additional 2,904 shares in the last quarter. Finally, Capital International Inc. CA boosted its holdings in shares of The PNC Financial Services Group by 26.7% in the first quarter. Capital International Inc. CA now owns 10,269 shares of the financial services provider's stock valued at $1,659,000 after buying an additional 2,161 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNC. Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, October 16th. Bank of America upgraded The PNC Financial Services Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating for the company in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $186.96.

The PNC Financial Services Group Trading Up 1.0 %

Shares of The PNC Financial Services Group stock traded up $2.10 during trading on Thursday, hitting $206.05. The stock had a trading volume of 588,972 shares, compared to its average volume of 1,866,652. The stock has a market cap of $81.76 billion, a PE ratio of 17.24, a PEG ratio of 2.14 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19. The firm's fifty day simple moving average is $189.79 and its 200-day simple moving average is $173.99. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion for 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 firm'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. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 54.10%.

Insider Activity at The PNC Financial Services Group

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 value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now owns 38,649 shares of the company's stock, valued at approximately $8,119,768.41. This represents 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 27,788 shares of company stock valued at $5,535,978 over the last quarter. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.