The PNC Financial Services Group, Inc. (NYSE:PNC) Position Trimmed by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 17,229 shares of the financial services provider’s stock after selling 1,455 shares during the quarter. The PNC Financial Services Group accounts for about 1.3% of Murphy Pohlad Asset Management LLC’s portfolio, making the stock its 29th largest holding. Murphy Pohlad Asset Management LLC’s holdings in The PNC Financial Services Group were worth $3,185,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BSN CAPITAL PARTNERS Ltd acquired a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC boosted its stake in The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Equity Investment Corp boosted its stake in The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after purchasing an additional 22,188 shares during the period. Finally, Duality Advisers LP boosted its stake in The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after purchasing an additional 10,743 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated 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 of the company’s stock, valued at $95,724,383. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the sale, the chief executive officer now directly owns 557,185 shares of the company’s stock, valued at approximately $95,724,383. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,279 shares of company stock valued at $2,418,591. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.6 %

PNC stock opened at $187.15 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 52-week low of $114.51 and a 52-week high of $196.64. The company has a 50-day moving average of $183.94 and a two-hundred day moving average of $169.34. The stock has a market capitalization of $74.39 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating 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 company 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 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analysts Set New Price Targets

A number of research firms recently commented on PNC. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. UBS Group increased their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup increased their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, Barclays increased their target price on shares of 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $185.71.

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.