The PNC Financial Services Group, Inc $PNC Shares Sold by Aberdeen Group plc

Aberdeen Group plc reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 329,942 shares of the financial services provider’s stock after selling 3,816 shares during the period. Aberdeen Group plc owned 0.08% of The PNC Financial Services Group worth $65,667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $27,000. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth about $34,000. FNY Investment Advisers LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $37,000. True Wealth Design LLC boosted its position in shares of The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 204 shares during the period. Finally, Bayforest Capital Ltd grew its stake in The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research analyst reports. Morgan Stanley increased their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. TD Cowen raised their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Finally, Oppenheimer raised their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Down 0.1%

Shares of NYSE PNC opened at $229.54 on Monday. The firm’s 50-day moving average is $218.84 and its two-hundred day moving average is $201.99. The company has a market capitalization of $90.02 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $243.94. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.77 EPS. Equities analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

The PNC Financial Services Group 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.