The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 34.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 186,945 shares of the financial services provider’s stock after selling 96,672 shares during the period. Natixis Advisors LLC’s holdings in The PNC Financial Services Group were worth $34,557,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Coastline Trust Co purchased a new stake in The PNC Financial Services Group in the third quarter valued at approximately $104,000. Gouws Capital LLC purchased a new stake in The PNC Financial Services Group in the third quarter valued at approximately $203,000. Valley Wealth Managers Inc. grew its holdings in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Empowered Funds LLC grew its holdings in The PNC Financial Services Group by 448.1% in the third quarter. Empowered Funds LLC now owns 33,281 shares of the financial services provider’s stock valued at $6,152,000 after purchasing an additional 27,209 shares during the period. Finally, Empirical Finance LLC grew its holdings in The PNC Financial Services Group by 2.0% in the third quarter. Empirical Finance LLC now owns 13,989 shares of the financial services provider’s stock valued at $2,586,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PNC. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Finally, Compass Point downgraded shares of 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 assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $207.68 on Monday. The company has a market capitalization of $82.40 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The firm has a fifty day simple moving average of $188.25 and a 200-day simple moving average of $173.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors 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 annualized dividend and a yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock valued at $5,277,493 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

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.