Worldquant Millennium Advisors LLC Sells 6,920 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Worldquant Millennium Advisors LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 36.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,166 shares of the financial services provider's stock after selling 6,920 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in The PNC Financial Services Group were worth $2,249,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P boosted its stake in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock worth $115,000 after buying an additional 50 shares during the last quarter. MFA Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock worth $3,148,000 after purchasing an additional 56 shares during the last quarter. Altman Advisors Inc. grew its stake in The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock worth $1,942,000 after buying an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. grew its stake in The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider's stock worth $1,969,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

PNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a report on Wednesday, October 16th. Barclays upped their price target on 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 report on Thursday, August 22nd. Stephens upped their target price 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. Finally, Wells Fargo & Company upped their price target on 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 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's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $195.84.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the transaction, the chief executive officer now directly owns 532,523 shares of the company's stock, valued at approximately $111,425,112.52. The trade was 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 Martin Pfinsgraff sold 859 shares of the business's stock in a transaction dated 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 approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock valued at $5,873,691 over the last three months. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Price Performance

PNC traded down $4.14 during trading on Monday, hitting $204.49. The company's stock had a trading volume of 1,598,836 shares, compared to its average volume of 1,867,152. The firm's 50 day moving average price is $197.02 and its two-hundred day moving average price is $178.93. 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 PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The stock has a market capitalization of $81.14 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its 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 company had revenue of $5.43 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.60 earnings per share. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.13%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 54.10%.

The PNC Financial Services Group 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.