KBC Group NV Trims Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

KBC Group NV lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,378 shares of the financial services provider’s stock after selling 14,758 shares during the quarter. KBC Group NV’s holdings in The PNC Financial Services Group were worth $15,967,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PNC. Capital International Investors grew its position in shares of The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after acquiring an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. grew its position in The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares during the last quarter. Legal & General Group Plc increased its stake in The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the period. Principal Financial Group Inc. raised its holdings in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after buying an additional 22,271 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after buying an additional 100,993 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the sale, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,546 shares of company stock worth $5,277,493. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $207.68 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.08 and a fifty-two week high of $214.19. The business has a fifty day moving average of $187.63 and a 200-day moving average of $172.44. The stock has a market cap of $82.40 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.60 EPS. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 13.46 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.08%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNC. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Evercore ISI raised their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $186.96.

About The PNC Financial Services Group

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.