SageView Advisory Group LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 68.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,589 shares of the financial services provider's stock after selling 3,527 shares during the quarter. SageView Advisory Group LLC's holdings in The PNC Financial Services Group were worth $294,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Ameriprise Financial Inc. grew its position in 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 valued at $746,772,000 after acquiring an additional 18,397 shares during the period. Legal & General Group Plc grew its holdings in shares of The PNC Financial Services Group by 6.8% during 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 purchasing an additional 223,955 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The PNC Financial Services Group by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider's stock worth $545,380,000 after purchasing an additional 42,887 shares during the period. Charles Schwab Investment Management Inc. increased its position in The PNC Financial Services Group by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider's stock worth $451,052,000 after purchasing an additional 6,438 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings 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 buying an additional 22,271 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.
Insider Buying and Selling
In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the transaction, the chief executive officer now owns 549,733 shares in the company, valued at approximately $101,007,941.42. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated 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 owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock worth $5,613,814 over the last quarter. 0.42% of the stock is owned by company insiders.
Analysts Set New Price Targets
PNC has been the subject of several research reports. Wells Fargo & Company boosted their price objective 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. Barclays increased their price target on 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. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday. Evercore ISI increased their target price 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. Finally, Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $195.84.
Get Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Stock Performance
NYSE:PNC traded down $0.20 during trading hours on Friday, reaching $208.63. 1,485,962 shares of the stock were exchanged, compared to its average volume of 1,874,343. The PNC Financial Services Group, Inc. has a 52 week low of $139.19 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $82.78 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.18 and a beta of 1.15. The firm has a 50 day simple moving average of $196.62 and a 200-day simple moving average of $178.41.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS 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 the consensus estimate of $5.39 billion. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.60 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal 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 given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is presently 54.10%.
The PNC Financial Services Group Company Profile
(
Free Report)
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.
See Also
Before you consider The PNC Financial Services Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The PNC Financial Services Group wasn't on the list.
While The PNC Financial Services Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report