Bridges Investment Management Inc. Sells 4,685 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bridges Investment Management Inc. lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 70.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,928 shares of the financial services provider's stock after selling 4,685 shares during the period. Bridges Investment Management Inc.'s holdings in The PNC Financial Services Group were worth $356,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Capital International Investors increased its position in shares of The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider's stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. increased its holdings in The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider's stock valued at $746,772,000 after purchasing an additional 18,397 shares during the period. Legal & General Group Plc increased its holdings in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider's stock valued at $544,335,000 after purchasing an additional 223,955 shares during the period. Principal Financial Group Inc. lifted its holdings in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after buying an additional 22,271 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of The PNC Financial Services Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider's stock worth $346,926,000 after buying an additional 100,993 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNC. 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 report on Wednesday, October 16th. Barclays upped their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Compass Point downgraded shares of The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Finally, Citigroup lifted their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Two equities research 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $185.71.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the completion of the sale, the chief executive officer now directly owns 557,185 shares in the company, valued at approximately $95,724,383. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Martin Pfinsgraff sold 859 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $171.80, for a total value of $213,375.60. Following the sale, the chief executive officer now owns 557,185 shares of the company's stock, valued at approximately $95,724,383. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,279 shares of company stock valued at $2,442,673 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.4 %

The PNC Financial Services Group stock traded up $0.76 during mid-day trading on Friday, reaching $203.97. The stock had a trading volume of 1,888,935 shares, compared to its average volume of 2,021,120. The company has a market capitalization of $80.93 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.16 and a beta of 1.13. 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, Inc. has a one year low of $118.56 and a one year high of $205.20. The company has a 50-day moving average price of $185.53 and a two-hundred day moving average price of $171.08.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. On average, analysts expect that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

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.