Equity Investment Corp Sells 91,557 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Equity Investment Corp decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 596,822 shares of the financial services provider's stock after selling 91,557 shares during the quarter. The PNC Financial Services Group accounts for about 2.6% of Equity Investment Corp's investment portfolio, making the stock its 15th biggest position. Equity Investment Corp owned about 0.15% of The PNC Financial Services Group worth $110,323,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in The PNC Financial Services Group during the first quarter worth $292,000. UniSuper Management Pty Ltd lifted its holdings 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 acquiring an additional 5,393 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at about $4,299,000. Bessemer Group Inc. boosted its position in shares of The PNC Financial Services Group by 35.0% during the 1st quarter. Bessemer Group Inc. now owns 65,541 shares of the financial services provider's stock valued at $10,591,000 after acquiring an additional 17,008 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its stake in The PNC Financial Services Group by 11.6% in the first quarter. Lake Street Advisors Group LLC now owns 11,126 shares of the financial services provider's stock valued at $1,798,000 after acquiring an additional 1,159 shares during the period. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the transaction, the chief executive officer now directly owns 536,249 shares in the company, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company's stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,788 shares of company stock worth $5,535,978. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Trading Down 0.4 %

PNC traded down $0.85 during mid-day trading on Monday, reaching $206.83. The stock had a trading volume of 1,652,343 shares, compared to its average volume of 1,873,661. The firm's fifty day simple moving average is $188.73 and its two-hundred day simple moving average is $173.43. The stock has a market capitalization of $82.07 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $127.08 and a 52 week high of $214.19. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter last year, the business earned $3.60 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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 3.09%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 54.10%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of analyst reports. 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 research note on Wednesday, September 11th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday. Compass Point cut The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of 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. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.96.

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.