The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,152 shares of the financial services provider’s stock after selling 17,439 shares during the period. Advisors Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $8,346,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Commerce Bank boosted its holdings in shares of The PNC Financial Services Group by 16.1% in the 3rd quarter. Commerce Bank now owns 61,320 shares of the financial services provider’s stock valued at $11,335,000 after buying an additional 8,494 shares during the period. Prospera Private Wealth LLC boosted its holdings in shares of The PNC Financial Services Group by 3.5% in the 3rd quarter. Prospera Private Wealth LLC now owns 5,076 shares of the financial services provider’s stock valued at $938,000 after buying an additional 171 shares during the period. Premier Fund Managers Ltd acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $6,541,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in The PNC Financial Services Group during the 3rd quarter valued at about $12,654,000. Finally, Banque Cantonale Vaudoise boosted its stake in The PNC Financial Services Group by 91.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 29,284 shares of the financial services provider’s stock valued at $5,413,000 after purchasing an additional 13,982 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the transaction, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’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 transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % 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 worth $5,535,978 over the last 90 days. 0.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. 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. Evercore ISI boosted their target price on shares of 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. Stephens boosted their target price 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 note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Stock Down 0.4 %

NYSE PNC opened at $203.95 on Thursday. 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 company’s 50 day simple moving average is $189.79 and its 200 day simple moving average is $173.99. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19. The company has a market capitalization of $80.92 billion, a P/E ratio of 17.24, a PEG ratio of 2.14 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results 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 business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $3.60 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect 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 company also recently declared 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 of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.14%. The PNC Financial Services Group’s dividend payout ratio is currently 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.