Hartford Investment Management Co. lowered its stake in PNC Financial Services Group Inc (NYSE:PNC) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,072 shares of the financial services provider’s stock after selling 4,024 shares during the quarter. Hartford Investment Management Co.’s holdings in PNC Financial Services Group were worth $8,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new position in PNC Financial Services Group in the third quarter valued at about $127,000. Landaas & Co. WI ADV acquired a new position in PNC Financial Services Group in the second quarter valued at about $147,000. Archford Capital Strategies LLC lifted its position in PNC Financial Services Group by 197.0% in the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock valued at $147,000 after buying an additional 723 shares during the last quarter. Kaizen Advisory LLC lifted its position in PNC Financial Services Group by 147.8% in the second quarter. Kaizen Advisory LLC now owns 1,150 shares of the financial services provider’s stock valued at $155,000 after buying an additional 686 shares during the last quarter. Finally, Atlas Capital Advisors LLC lifted its position in PNC Financial Services Group by 75.6% in the second quarter. Atlas Capital Advisors LLC now owns 1,171 shares of the financial services provider’s stock valued at $166,000 after buying an additional 504 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors.

A number of research firms have commented on PNC. ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. UBS Group set a $137.00 price target on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Monday, October 15th. Nomura reduced their price target on shares of PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. BMO Capital Markets reduced their price target on shares of PNC Financial Services Group to $139.00 and set an “outperform” rating on the stock in a research report on Monday, October 15th. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their price target on shares of PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Monday, October 15th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $155.50.

In related news, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the sale, the executive vice president now owns 131,020 shares of the company’s stock, valued at $18,406,999.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by company insiders.

Shares of PNC opened at $133.70 on Thursday. The stock has a market cap of $61.26 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. PNC Financial Services Group Inc has a 1 year low of $116.55 and a 1 year high of $163.59. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.89 and a current ratio of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.09. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.32 billion. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. During the same quarter in the prior year, the company earned $2.16 earnings per share. As a group, analysts predict that PNC Financial Services Group Inc will post 10.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Wednesday, October 17th were issued a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, October 16th. This represents a $3.80 annualized dividend and a yield of 2.84%. PNC Financial Services Group’s dividend payout ratio (DPR) is 44.71%.

PNC Financial Services Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 8th that permits the company to repurchase $900.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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