Cambiar Investors LLC Sells 2,923 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cambiar Investors LLC trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 237,475 shares of the financial services provider’s stock after selling 2,923 shares during the quarter. The PNC Financial Services Group makes up approximately 1.7% of Cambiar Investors LLC’s investment portfolio, making the stock its 26th biggest position. Cambiar Investors LLC’s holdings in The PNC Financial Services Group were worth $43,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norden Group LLC boosted its position in shares of The PNC Financial Services Group by 52.6% during the 1st quarter. Norden Group LLC now owns 2,630 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 907 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of The PNC Financial Services Group by 2.1% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,912 shares of the financial services provider’s stock worth $794,000 after buying an additional 102 shares in the last quarter. Private Advisor Group LLC grew its position in shares of The PNC Financial Services Group by 5.3% during the 1st quarter. Private Advisor Group LLC now owns 61,369 shares of the financial services provider’s stock worth $9,917,000 after buying an additional 3,089 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at $282,000. Finally, Mission Wealth Management LP acquired a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $247,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.6 %

PNC stock opened at $187.15 on Friday. The stock has a market cap of $74.39 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.02 and a beta of 1.14. 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 stock’s fifty day simple moving average is $183.94 and its two-hundred day simple moving average is $169.34. The PNC Financial Services Group, Inc. has a 1-year low of $114.51 and a 1-year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNC shares. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Stephens raised their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.71.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the sale, the chief executive officer now directly owns 544,765 shares of the company’s stock, valued at $103,652,436.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the sale, the chief executive officer now owns 544,765 shares of the company’s stock, valued at $103,652,436.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,279 shares of company stock worth $2,418,591. 0.42% of the stock is owned by company 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.