The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,769 shares of the financial services provider’s stock after selling 1,065 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in The PNC Financial Services Group were worth $2,176,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after buying an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after acquiring an additional 276,200 shares during the period. Hsbc Holdings PLC grew its stake in shares of The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock worth $5,277,493 over the last three months. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PNC shares. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Wells Fargo & Company raised 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 report on Friday. Finally, Barclays boosted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research 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. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $186.96.

The PNC Financial Services Group Trading Down 0.1 %

NYSE:PNC opened at $207.68 on Friday. The PNC Financial Services Group, Inc. has a 52-week low of $127.08 and a 52-week high of $214.19. 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 stock has a fifty day simple moving average of $188.25 and a 200-day simple moving average of $172.94. The company has a market capitalization of $82.40 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $3.60 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

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.