NWQ Investment Management Company LLC Has $9.06 Million Stake in PNC Financial Services Group Inc (PNC)

NWQ Investment Management Company LLC lowered its stake in PNC Financial Services Group Inc (NYSE:PNC) by 80.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,189 shares of the financial services provider’s stock after selling 270,941 shares during the period. NWQ Investment Management Company LLC’s holdings in PNC Financial Services Group were worth $9,055,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in shares of PNC Financial Services Group by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after buying an additional 4 shares during the period. Hudock Capital Group LLC increased its holdings in shares of PNC Financial Services Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after buying an additional 11 shares during the period. Telemus Capital LLC increased its holdings in shares of PNC Financial Services Group by 0.3% in the second quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after buying an additional 16 shares during the period. Green Square Capital LLC increased its holdings in shares of PNC Financial Services Group by 0.4% in the second quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock worth $518,000 after buying an additional 18 shares during the period. Finally, Abner Herrman & Brock LLC increased its holdings in shares of PNC Financial Services Group by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 2,899 shares of the financial services provider’s stock worth $362,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 81.57% of the company’s stock.

PNC has been the topic of a number of research analyst reports. Zacks Investment Research downgraded PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. UBS boosted their price target on PNC Financial Services Group from $133.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, October 16th. Wells Fargo & Company set a $135.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a report on Thursday, October 19th. Royal Bank Of Canada boosted their price target on PNC Financial Services Group from $130.00 to $145.00 and gave the company a “top pick” rating in a report on Monday, October 16th. Finally, BidaskClub downgraded PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Sixteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $136.13.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $140.98, for a total value of $704,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider E William Parsley III sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total value of $3,467,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,640 shares of company stock worth $5,901,852. Insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group Inc (NYSE PNC) traded up $0.41 on Friday, hitting $143.42. The stock had a trading volume of 1,420,700 shares, compared to its average volume of 2,193,844. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92. PNC Financial Services Group Inc has a 12-month low of $112.61 and a 12-month high of $145.66. The company has a market cap of $68,240.00, a PE ratio of 17.46, a P/E/G ratio of 1.91 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. sell-side analysts forecast that PNC Financial Services Group Inc will post 8.44 EPS for the current fiscal year.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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