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

PNC Financial Services Group Inc. reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,488,258 shares of the financial services provider's stock after selling 30,822 shares during the period. PNC Financial Services Group Inc. owned approximately 0.38% of The PNC Financial Services Group worth $275,104,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its stake 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 purchasing an additional 78,407 shares during the period. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 18,397 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of The PNC Financial Services Group by 6.8% in the 2nd 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. increased its stake 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 valued at $420,621,000 after purchasing an additional 22,271 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 100,993 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PNC. Morgan Stanley raised 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 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 lifted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Barclays increased 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 research report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Finally, Stephens raised their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $186.96.

The PNC Financial Services Group Trading Down 1.0 %

Shares of NYSE:PNC traded down $1.97 during trading on Tuesday, reaching $204.86. 1,542,116 shares of the stock were exchanged, compared to its average volume of 1,872,186. The PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19. The firm's 50-day moving average price is $188.73 and its 200 day moving average price is $173.43. 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 firm has a market cap of $81.28 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.39 billion. During the same period in the prior year, the company earned $3.60 EPS. The firm's revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share 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. Stockholders 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 dividend yield of 3.12%. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the sale, the chief executive officer now directly owns 536,249 shares in the company, valued at $111,604,141.88. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $3,048,195.81. Following the transaction, the director now owns 38,649 shares of the company's stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,788 shares of company stock valued at $5,535,978. Corporate insiders own 0.42% of the company's stock.

About The PNC Financial Services Group

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.