169,380 The PNC Financial Services Group, Inc $PNC Shares Sold by Equity Investment Corp

Equity Investment Corp decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 447,417 shares of the financial services provider’s stock after selling 169,380 shares during the quarter. Equity Investment Corp’s holdings in The PNC Financial Services Group were worth $99,443,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PNC. BlackRock Inc. acquired a new position in The PNC Financial Services Group during the second quarter worth about $7,921,455,000. State Street Corp raised its position in The PNC Financial Services Group by 4.3% in the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock worth $4,538,929,000 after acquiring an additional 765,097 shares in the last quarter. Bank of America Corp DE acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $2,102,631,000. Deutsche Bank AG acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in The PNC Financial Services Group by 1.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock valued at $888,309,000 after acquiring an additional 39,112 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research reports. Bank of America reduced their price objective on shares of The PNC Financial Services Group from $291.00 to $276.00 in a research report on Thursday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Tuesday, October 13th. Evercore cut their target price on shares of The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Keefe, Bruyette & Woods reduced their target price on shares of The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating for the company in a report on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $230.00 to $265.00 in a research report on Thursday, July 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $266.04.

The PNC Financial Services Group Stock Down 0.1%

Shares of The PNC Financial Services Group stock opened at $231.06 on Wednesday. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96. The firm has a market capitalization of $91.68 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.28. The stock’s fifty day moving average is $228.20 and its 200-day moving average is $229.27.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The business had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The PNC Financial Services Group’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $4.35 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is currently 42.58%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.