BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $21.89 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 32.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,416 shares of the financial services provider’s stock after selling 55,829 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in The PNC Financial Services Group were worth $21,889,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ORG Partners LLC raised its holdings 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 worth $26,000 after buying an additional 110 shares during the period. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $26,000. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $28,000. Valley Wealth Managers Inc. lifted its position in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group in the 2nd quarter worth $33,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Barclays upped their price target on 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. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Stock Up 2.1 %

PNC stock opened at $210.07 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $127.15 and a 1-year high of $214.19. The business’s 50 day simple moving average is $191.01 and its 200 day simple moving average is $174.58. 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 firm has a market capitalization of $83.35 billion, a PE ratio of 17.76, a PEG ratio of 2.14 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm earned $3.60 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock worth $5,317,200 in the last 90 days. Company insiders own 0.42% of the company’s stock.

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.