The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,325 shares of the financial services provider’s stock after selling 4,397 shares during the period. Harvest Portfolios Group Inc.’s holdings in The PNC Financial Services Group were worth $6,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BSN CAPITAL PARTNERS Ltd acquired a new stake in The PNC Financial Services Group in the third quarter valued at approximately $12,548,000. Bleakley Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $822,000. Equity Investment Corp grew its stake in shares of The PNC Financial Services Group by 3.4% during the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after purchasing an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP increased its holdings in The PNC Financial Services Group by 108.5% in the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after buying an additional 10,743 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $201.25 on Wednesday. The firm has a market capitalization of $80.00 billion, a PE ratio of 15.96, a P/E/G ratio of 1.99 and a beta of 1.13. The stock’s 50 day moving average is $184.29 and its two-hundred day moving average is $170.18. The PNC Financial Services Group, Inc. has a twelve month low of $118.56 and a twelve month high of $201.25. 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 released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.60 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup lifted their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. 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 report on Wednesday, September 11th. Stephens raised their price objective on shares of 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. UBS Group upped their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $185.71.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the transaction, the chief executive officer now directly owns 558,427 shares in the company, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated 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 directly owns 915 shares in the company, valued at $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the transaction, the chief executive officer now directly owns 558,427 shares in the company, valued at $94,994,016.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,521 shares of company stock worth $2,653,950 over the last 90 days. 0.42% of the stock is currently owned by corporate 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.