V Square Quantitative Management LLC Sells 183 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

V Square Quantitative Management LLC decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,407 shares of the financial services provider’s stock after selling 183 shares during the quarter. V Square Quantitative Management LLC’s holdings in The PNC Financial Services Group were worth $1,554,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PNC. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $26,000. ORG Partners LLC raised its position in The PNC Financial Services Group by 203.7% during 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. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth $29,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $0.24 during midday trading on Friday, reaching $189.04. The company had a trading volume of 244,253 shares, compared to its average volume of 1,861,398. The stock has a market cap of $75.22 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $196.64. The business’s 50-day simple moving average is $180.44 and its 200 day simple moving average is $166.93.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) 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 analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.60 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.39%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Buying and Selling

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, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the sale, the chief executive officer now directly owns 560,911 shares in the company, valued at approximately $101,233,217.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the sale, the chief executive officer now owns 560,911 shares in the company, valued at $101,233,217.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,420 shares of company stock worth $4,223,131. 0.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Barclays lifted 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $185.71.

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.