Nisa Investment Advisors LLC Sells 3,130 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Nisa Investment Advisors LLC lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.7% during the third quarter, Holdings Channel.com reports. The firm owned 177,739 shares of the financial services provider’s stock after selling 3,130 shares during the period. Nisa Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $32,855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC grew its holdings in The PNC Financial Services Group by 3.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,599 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 105 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of The PNC Financial Services Group by 8.7% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,442 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 196 shares in the last quarter. Smithbridge Asset Management Inc. DE grew its stake in shares of The PNC Financial Services Group by 75.7% during the third quarter. Smithbridge Asset Management Inc. DE now owns 5,470 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 2,356 shares during the last quarter. Pullen Investment Management LLC increased its holdings in shares of The PNC Financial Services Group by 1.4% in the third quarter. Pullen Investment Management LLC now owns 10,477 shares of the financial services provider’s stock valued at $1,937,000 after purchasing an additional 143 shares in the last quarter. Finally, Mcrae Capital Management Inc. lifted its holdings in The PNC Financial Services Group by 7.7% during the 3rd quarter. Mcrae Capital Management Inc. now owns 1,400 shares of the financial services provider’s stock worth $259,000 after buying an additional 100 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Barclays lifted their price objective 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. Jefferies Financial Group upped their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada boosted 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. Finally, The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

Insider Buying and Selling

In related 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 value of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $190.27, for a total value of $236,315.34. Following the completion of the sale, the chief executive officer now directly owns 544,765 shares of the company’s stock, valued at approximately $103,652,436.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,521 shares of company stock worth $4,631,855 over the last ninety days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC stock opened at $189.88 on Tuesday. The PNC Financial Services Group, Inc. has a 1-year low of $111.08 and a 1-year high of $196.64. The business’s 50-day moving average price is $182.86 and its two-hundred day moving average price is $168.53. The firm has a market cap of $75.55 billion, a PE ratio of 15.94, a P/E/G ratio of 1.98 and a beta of 1.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the firm earned $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

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.