The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,864 shares of the financial services provider’s stock after selling 365 shares during the quarter. The PNC Financial Services Group makes up approximately 0.8% of Alpha DNA Investment Management LLC’s holdings, making the stock its 15th biggest holding. Alpha DNA Investment Management LLC’s holdings in The PNC Financial Services Group were worth $2,193,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ascent Group LLC increased its stake in shares of The PNC Financial Services Group by 15.0% during the 1st quarter. Ascent Group LLC now owns 6,826 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 889 shares during the last quarter. Paloma Partners Management Co raised its stake in The PNC Financial Services Group by 2,084.0% during the first quarter. Paloma Partners Management Co now owns 2,184 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 2,084 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 647,588 shares of the financial services provider’s stock valued at $104,650,000 after purchasing an additional 13,104 shares during the last quarter. Black Maple Capital Management LP purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $1,875,000. Finally, Interval Partners LP increased its holdings in shares of The PNC Financial Services Group by 22.9% during the 1st quarter. Interval Partners LP now owns 232,198 shares of the financial services provider’s stock worth $37,523,000 after buying an additional 43,264 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were 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 owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,317,200 over the last three months. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Stephens raised their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI boosted 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 research note on Wednesday, October 16th. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Price Performance

PNC stock opened at $210.07 on Friday. The company has a market capitalization of $83.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.15 and a beta of 1.13. 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’s 50 day moving average is $191.01 and its two-hundred day moving average is $174.71. The PNC Financial Services Group, Inc. has a 52-week low of $127.15 and a 52-week high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last posted 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 firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations 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 company posted $3.60 earnings per share. Analysts predict 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 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 was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.05%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

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.