B. Metzler seel. Sohn & Co. AG Sells 11,464 Shares of The PNC Financial Services Group, Inc $PNC

B. Metzler seel. Sohn & Co. AG lowered its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 23.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,163 shares of the financial services provider’s stock after selling 11,464 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in The PNC Financial Services Group were worth $7,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of The PNC Financial Services Group by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock valued at $11,621,000 after purchasing an additional 6,572 shares during the period. US Bancorp DE increased its stake in shares of The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after buying an additional 34,009 shares during the period. Envestnet Asset Management Inc. raised its holdings in The PNC Financial Services Group by 1.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after buying an additional 22,325 shares during the last quarter. National Pension Service raised its holdings in The PNC Financial Services Group by 2.5% during the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock valued at $215,113,000 after buying an additional 26,305 shares during the last quarter. Finally, Savant Capital LLC boosted its position in The PNC Financial Services Group by 8.7% during the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock valued at $17,672,000 after buying an additional 7,064 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the sale, the executive vice president owned 21,120 shares in the company, valued at $4,940,179.20. This represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 over the last quarter. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PNC has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods upped 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. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. TD Cowen boosted their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. upped their price target on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Performance

PNC stock opened at $206.26 on Monday. The stock has a market capitalization of $83.20 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.86 and a beta of 0.98. 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The stock’s 50 day simple moving average is $222.17 and its 200 day simple moving average is $205.18.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates 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 quarter last year, the company earned $3.77 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The PNC Financial Services Group’s payout ratio is 40.99%.

About The PNC Financial Services Group

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.