Principal Financial Group Inc. Sells 92,589 Shares of The PNC Financial Services Group, Inc $PNC

Principal Financial Group Inc. decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,784,891 shares of the financial services provider’s stock after selling 92,589 shares during the period. Principal Financial Group Inc. owned approximately 0.45% of The PNC Financial Services Group worth $358,638,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kennebec Savings Bank grew its position in shares of The PNC Financial Services Group by 1.6% during the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after purchasing an additional 54 shares in the last quarter. Almanack Investment Partners LLC. boosted its stake in shares of The PNC Financial Services Group by 2.3% in the second quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock valued at $454,000 after buying an additional 55 shares during the period. Winthrop Capital Management LLC boosted its stake in shares of The PNC Financial Services Group by 2.1% in the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after buying an additional 55 shares during the period. SCS Capital Management LLC grew its position in The PNC Financial Services Group by 0.6% during the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after buying an additional 55 shares in the last quarter. Finally, Webster Bank N. A. increased its stake in The PNC Financial Services Group by 0.5% during the 3rd quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock worth $2,205,000 after acquiring an additional 55 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. UBS Group boosted their target price on shares of 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. Finally, TD Cowen upped their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $231.00.

Insider Buying and Selling

In other news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $223.33 on Friday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $227.78. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $87.58 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.94 and a beta of 0.99. The firm has a 50 day simple moving average of $210.42 and a 200 day simple moving average of $199.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the previous year, the firm posted $3.77 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.