Sumitomo Mitsui Trust Group Inc. Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 914,940 shares of the financial services provider's stock after selling 21,846 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of The PNC Financial Services Group worth $169,127,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Bank & Trust Co acquired a new stake in The PNC Financial Services Group during the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $28,000. Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group in the second quarter worth approximately $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter worth about $38,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PNC. Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Bank of America upgraded 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 report on Thursday, August 15th. The Goldman Sachs Group decreased their price objective on shares of 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. Stephens boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an "outperform" rating in a report on Wednesday, July 17th. Two 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. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and an average target price of $185.71.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at $170,299.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $171.80, for a total value of $213,375.60. Following the completion of the transaction, the chief executive officer now owns 557,185 shares in the company, valued at $95,724,383. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock valued at $5,490,869 over the last three months. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

PNC traded down $1.77 on Wednesday, hitting $209.27. 1,653,212 shares of the company's stock were exchanged, compared to its average volume of 1,873,543. 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 firm has a 50-day moving average price of $186.55 and a 200-day moving average price of $171.93. The PNC Financial Services Group, Inc. has a fifty-two week low of $122.75 and a fifty-two week high of $214.19. The stock has a market cap of $83.03 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $5.43 billion for the quarter, compared to analysts' expectations 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 PNC Financial Services Group's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued 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 3.06%. 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.