UBS Asset Management Americas Inc. Lowers Position in PNC Financial Services Group Inc (PNC)

UBS Asset Management Americas Inc. trimmed its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,662,742 shares of the financial services provider’s stock after selling 22,391 shares during the quarter. UBS Asset Management Americas Inc. owned 0.35% of PNC Financial Services Group worth $239,917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlantic Trust LLC bought a new stake in PNC Financial Services Group during the 2nd quarter worth approximately $129,000. Legacy Advisors LLC acquired a new position in PNC Financial Services Group during the 3rd quarter worth approximately $136,000. Resources Investment Advisors Inc. boosted its position in PNC Financial Services Group by 130.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 600 shares during the last quarter. Capital Guardian Trust Co. acquired a new position in PNC Financial Services Group during the 3rd quarter worth approximately $154,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in PNC Financial Services Group during the 4th quarter worth approximately $157,000. 81.98% of the stock is owned by institutional investors and hedge funds.

In other PNC Financial Services Group news, insider E William Parsley III sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total transaction of $3,467,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $140.98, for a total value of $704,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,894 shares of company stock valued at $14,897,513 in the last ninety days. Insiders own 0.43% of the company’s stock.

A number of equities analysts have weighed in on PNC shares. Nomura upped their price target on PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Zacks Investment Research downgraded PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. JPMorgan Chase & Co. upped their price target on PNC Financial Services Group from $139.50 to $140.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $151.00 price target on shares of PNC Financial Services Group in a research report on Monday, December 4th. Finally, Wells Fargo & Co set a $149.00 price target on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Eighteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $145.98.

Shares of PNC Financial Services Group Inc (PNC) opened at $159.08 on Friday. The company has a market capitalization of $75,690.00, a P/E ratio of 15.25, a PEG ratio of 1.49 and a beta of 0.93. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a twelve month low of $115.25 and a twelve month high of $160.81.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $2.20 by $0.09. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.97 EPS. analysts forecast that PNC Financial Services Group Inc will post 10.44 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.89%. The ex-dividend date was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is 28.76%.

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About PNC Financial Services Group

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.

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

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