Jennison Associates LLC Sells 3,387 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Jennison Associates LLC reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,612,815 shares of the financial services provider's stock after selling 3,387 shares during the quarter. Jennison Associates LLC owned approximately 0.41% of The PNC Financial Services Group worth $298,129,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Capital International Investors lifted its holdings in The PNC Financial Services Group by 0.5% during the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider's stock worth $2,556,195,000 after buying an additional 78,407 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of 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 worth $746,772,000 after buying an additional 18,397 shares during the period. Legal & General Group Plc lifted its holdings in The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider's stock valued at $544,335,000 after buying an additional 223,955 shares during the period. Principal Financial Group Inc. boosted its stake in The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after acquiring an additional 22,271 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in The PNC Financial Services Group by 4.7% during 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 acquiring an additional 100,993 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares of the company's stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. 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 in the last ninety days. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PNC shares. Bank of America raised shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 11th. Compass Point lowered shares of The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and an average price target of $186.96.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $0.92 during trading on Wednesday, reaching $203.94. The company's stock had a trading volume of 740,197 shares, compared to its average volume of 1,868,482. The firm has a 50 day moving average price of $189.25 and a 200 day moving average price of $173.78. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19. The firm has a market capitalization of $80.92 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results 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 business 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 return on equity of 10.88% and a net margin of 14.97%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.60 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.14%. The PNC Financial Services Group's payout ratio is 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.