Factory Mutual Insurance Co. Sells 30,800 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Factory Mutual Insurance Co. lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 107,000 shares of the financial services provider’s stock after selling 30,800 shares during the period. Factory Mutual Insurance Co.’s holdings in The PNC Financial Services Group were worth $20,635,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. AQR Capital Management LLC raised its position in shares of The PNC Financial Services Group by 14.2% during the second quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock worth $6,983,000 after acquiring an additional 5,640 shares during the last quarter. Quarry LP increased its position in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. EP Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 11.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 3,725 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 395 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of The PNC Financial Services Group by 4.2% in the 2nd quarter. Cetera Investment Advisers now owns 117,328 shares of the financial services provider’s stock worth $18,242,000 after purchasing an additional 4,745 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of The PNC Financial Services Group by 1.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 28,577 shares of the financial services provider’s stock valued at $5,283,000 after purchasing an additional 543 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PNC shares. Evercore ISI lifted 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. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Barclays boosted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Down 0.7 %

Shares of NYSE PNC opened at $200.63 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average price of $200.04 and a 200-day moving average price of $189.44. The stock has a market capitalization of $79.60 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $196.17, for a total value of $243,643.14. Following the completion of the transaction, the chief executive officer now owns 523,829 shares in the company, valued at $102,759,534.93. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,171 shares of company stock valued at $5,786,210 in the last three months. 0.42% of the stock is currently owned by insiders.

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.