The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 39.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,465 shares of the financial services provider's stock after selling 6,919 shares during the period. MAI Capital Management's holdings in The PNC Financial Services Group were worth $1,934,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PNC. Ameriprise Financial Inc. boosted its position in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider's stock worth $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Legal & General Group Plc boosted its holdings in 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 buying an additional 223,955 shares in the last quarter. Principal Financial Group Inc. grew its position in 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 valued at $420,621,000 after buying an additional 22,271 shares during the period. Dimensional Fund Advisors LP increased its holdings in The PNC Financial Services Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider's stock valued at $346,926,000 after buying an additional 100,993 shares in the last quarter. Finally, Provident Trust Co. raised its position in shares of The PNC Financial Services Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,194,527 shares of the financial services provider's stock worth $405,658,000 after acquiring an additional 5,638 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares in the company, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm's 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 sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents 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 worth $5,535,978 in the last ninety days. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several recent analyst reports. Evercore ISI lifted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" 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 increased their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Morgan Stanley boosted their price target 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. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $186.96.

The PNC Financial Services Group Trading Up 0.9 %

Shares of NYSE:PNC traded up $1.80 during mid-day trading on Thursday, reaching $205.75. 3,171,522 shares of the company were exchanged, compared to its average volume of 1,878,102. The firm has a market cap of $81.64 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.14 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 1 year low of $127.08 and a 1 year high of $214.19. The firm's 50-day simple moving average is $190.35 and its 200 day simple moving average is $174.21.

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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.39 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) 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.