Meeder Advisory Services Inc. Has $2.13 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Meeder Advisory Services Inc. trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,544 shares of the financial services provider’s stock after selling 241 shares during the quarter. Meeder Advisory Services Inc.’s holdings in The PNC Financial Services Group were worth $2,134,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PNC. Intech Investment Management LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at about $292,000. UniSuper Management Pty Ltd raised its position in The PNC Financial Services Group by 1,142.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,865 shares of the financial services provider’s stock valued at $948,000 after buying an additional 5,393 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $4,299,000. Bessemer Group Inc. increased its holdings in The PNC Financial Services Group by 35.0% in the 1st quarter. Bessemer Group Inc. now owns 65,541 shares of the financial services provider’s stock worth $10,591,000 after acquiring an additional 17,008 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in The PNC Financial Services Group by 11.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 11,126 shares of the financial services provider’s stock worth $1,798,000 after acquiring an additional 1,159 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price 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. Stephens upped 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 research report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods raised their price objective 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. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Two investment 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $207.11 on Monday. 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 firm has a market capitalization of $82.18 billion, a PE ratio of 17.56, a PEG ratio of 2.17 and a beta of 1.13. The firm’s fifty day simple moving average is $188.25 and its 200 day simple moving average is $173.07. The PNC Financial Services Group, Inc. has a 1 year low of $127.08 and a 1 year high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced 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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the firm posted $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at $101,604,582.17. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the 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 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 sold a total of 26,546 shares of company stock valued at $5,277,493 over the last ninety days. Insiders own 0.42% of the company’s stock.

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.