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

Fisher Asset Management LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 3,594 shares of the financial services provider’s stock after selling 52 shares during the quarter. Fisher Asset Management LLC’s holdings in The PNC Financial Services Group were worth $664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Concurrent Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after acquiring an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at approximately $12,548,000. Bleakley Financial Group LLC raised its position in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $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 during the second quarter worth $822,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the second quarter worth $18,159,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

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 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 transaction, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,345,530 over the last 90 days. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of several research reports. Evercore ISI lifted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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, October 16th. 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 report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $189.15.

The PNC Financial Services Group Stock Down 0.1 %

Shares of NYSE:PNC opened at $214.72 on Friday. The company has a market cap of $85.20 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.25 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $132.11 and a fifty-two week high of $216.26. The firm’s 50-day simple moving average is $194.07 and its 200-day simple moving average is $176.68. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.60 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

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.