The PNC Financial Services Group, Inc $PNC Shares Sold by Amundi

Amundi lessened its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,949,459 shares of the financial services provider’s stock after selling 236,614 shares during the quarter. Amundi owned approximately 0.50% of The PNC Financial Services Group worth $381,529,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PNC. Brighton Jones LLC boosted its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the period. Goldman Sachs Group Inc. lifted its holdings in The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after buying an additional 830,440 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in The PNC Financial Services Group by 13.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 3,142 shares of the financial services provider’s stock worth $515,000 after buying an additional 371 shares in the last quarter. Headlands Technologies LLC boosted its position in The PNC Financial Services Group by 109.3% in the 1st quarter. Headlands Technologies LLC now owns 4,310 shares of the financial services provider’s stock valued at $758,000 after buying an additional 2,251 shares during the period. Finally, Y.D. More Investments Ltd grew its stake in shares of The PNC Financial Services Group by 13.8% in the first quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.2%

Shares of The PNC Financial Services Group stock opened at $197.91 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $187.70 and a 200-day simple moving average of $189.97. The stock has a market cap of $77.61 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.11 and a beta of 1.01. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $209.85.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the previous year, the company earned $3.49 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analysts Set New Price Targets

PNC has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Raymond James Financial upped their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. UBS Group increased their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Oppenheimer lowered their price objective on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This trade represents a 14.70% 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, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% 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.