The PNC Financial Services Group, Inc $PNC Stock: ProShare Advisors LLC Reduces Position

ProShare Advisors LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,650 shares of the financial services provider’s stock after selling 3,911 shares during the period. ProShare Advisors LLC’s holdings in The PNC Financial Services Group were worth $18,814,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cidel Asset Management Inc. purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $756,000. Americana Partners LLC grew its position in shares of The PNC Financial Services Group by 9.0% in the 3rd quarter. Americana Partners LLC now owns 1,859 shares of the financial services provider’s stock valued at $413,000 after buying an additional 154 shares during the last quarter. Aprio Wealth Management LLC grew its position in shares of The PNC Financial Services Group by 17.9% in the 3rd quarter. Aprio Wealth Management LLC now owns 1,854 shares of the financial services provider’s stock valued at $412,000 after buying an additional 282 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of The PNC Financial Services Group by 1,316.4% in the 3rd quarter. International Assets Investment Management LLC now owns 35,000 shares of the financial services provider’s stock valued at $7,779,000 after buying an additional 32,529 shares during the last quarter. Finally, Brian Low Financial Group LLC raised its stake in The PNC Financial Services Group by 4.6% during the 3rd quarter. Brian Low Financial Group LLC now owns 8,343 shares of the financial services provider’s stock worth $1,855,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. UBS Group dropped their price objective on The PNC Financial Services Group from $286.00 to $278.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird lifted their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Evercore cut their target price on The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Finally, Argus boosted their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.04.

The PNC Financial Services Group Stock Up 1.7%

PNC opened at $231.74 on Tuesday. The business has a 50 day moving average price of $229.81 and a two-hundred day moving average price of $228.98. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The company has a market cap of $92.45 billion, a PE ratio of 12.33, a P/E/G ratio of 1.18 and a beta of 0.94. The PNC Financial Services Group, Inc has a 52 week low of $177.08 and a 52 week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period last year, the firm earned $4.35 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.22 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.58%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.