Huntington National Bank Sells 10,008 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Huntington National Bank lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 8.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 103,272 shares of the financial services provider's stock after selling 10,008 shares during the period. Huntington National Bank's holdings in The PNC Financial Services Group were worth $19,090,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Capital International Investors boosted its holdings in shares of The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider's stock worth $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider's stock worth $746,772,000 after acquiring an additional 18,397 shares during the period. Legal & General Group Plc boosted its holdings in shares of The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider's stock worth $544,335,000 after acquiring an additional 223,955 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after acquiring an additional 22,271 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider's stock worth $346,926,000 after acquiring an additional 100,993 shares during the period. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares of the company's stock, valued at approximately $97,929,359.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Andrew T. Feldstein sold 14,509 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares of the company's stock, valued at approximately $97,929,359.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,788 shares of company stock valued at $5,490,869. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Trading Down 0.5 %

Shares of PNC traded down $1.08 during mid-day trading on Thursday, reaching $208.22. 678,272 shares of the company were exchanged, compared to its average volume of 1,868,134. The PNC Financial Services Group, Inc. has a 52 week low of $126.41 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 stock has a market capitalization of $82.62 billion, a PE ratio of 17.69, a PEG ratio of 2.23 and a beta of 1.13. The business has a 50 day simple moving average of $187.09 and a two-hundred day simple moving average of $172.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The company 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 return on equity of 10.88% and a net margin of 14.97%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.60 earnings per share. On average, analysts predict that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is 54.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PNC shares. Bank of America upgraded The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating for the company in a report on Wednesday, September 11th. Compass Point cut The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Morgan Stanley boosted 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. Finally, Citigroup increased their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $185.71.

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.