Vinva Investment Management Ltd Decreases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vinva Investment Management Ltd decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the third quarter, HoldingsChannel reports. The fund owned 13,956 shares of the financial services provider’s stock after selling 165 shares during the quarter. Vinva Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $2,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC grew its holdings in The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC boosted its holdings in The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in The PNC Financial Services Group in the second quarter worth $822,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at $18,159,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods boosted their price target 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. Morgan Stanley increased their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Stephens lifted their target price on 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, Evercore ISI increased their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $189.15.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $215.00 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $127.83 and a 12-month high of $216.18. The business’s fifty day simple moving average is $193.50 and its 200-day simple moving average is $176.17. 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 company has a market cap of $85.31 billion, a PE ratio of 18.17, a PEG ratio of 2.25 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 EPS. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. This represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,546 shares of company stock worth $5,345,530. 0.42% of the stock is owned by corporate insiders.

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.