The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by KBC Group NV

KBC Group NV lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.6% in the 3rd quarter, according to the company in 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 period. KBC Group NV’s holdings in The PNC Financial Services Group were worth $15,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNC. ORG Partners LLC lifted its position in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth $26,000. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $28,000. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth about $33,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $38,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $207.68 on Friday. 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 stock has a market capitalization 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 business has a 50-day moving average of $187.63 and a 200 day moving average of $172.44. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share 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 firm’s revenue for the quarter 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, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.46 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors 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 dividend on an annualized basis and a yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Barclays upped their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Stephens lifted 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 report on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.96.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated 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 completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares in the company, valued at approximately $97,929,359.45. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,546 shares of company stock worth $5,277,493 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.