AIA Group Ltd Sells 388 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

AIA Group Ltd lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,037 shares of the financial services provider’s stock after selling 388 shares during the period. AIA Group Ltd’s holdings in The PNC Financial Services Group were worth $746,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors increased its stake in shares of The PNC Financial Services Group by 0.5% in 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 buying an additional 78,407 shares during the period. Ameriprise Financial Inc. increased its position in shares of The PNC Financial Services Group by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after acquiring an additional 18,397 shares during the period. Legal & General Group Plc raised its stake in shares of The PNC Financial Services Group by 6.8% during 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 acquiring an additional 223,955 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after purchasing an additional 22,271 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of The PNC Financial Services Group by 4.7% in 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 purchasing an additional 100,993 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PNC. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Citigroup raised their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $203.98 on Friday. The stock has a market cap of $80.94 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.17 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1 year low of $118.56 and a 1 year high of $205.20. The firm’s 50-day moving average is $185.53 and its 200 day moving average is $170.98.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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 business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at $102,997,608.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the transaction, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group 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 completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,279 shares of company stock worth $2,442,673 over the last quarter. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Company Profile

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.