PNC Financial Services Group Inc (PNC) Holdings Cut by First National Trust Co

First National Trust Co cut its position in PNC Financial Services Group Inc (NYSE:PNC) by 6.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,117 shares of the financial services provider’s stock after selling 1,714 shares during the period. First National Trust Co’s holdings in PNC Financial Services Group were worth $3,421,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC raised its holdings in PNC Financial Services Group by 5.7% in the second quarter. Jennison Associates LLC now owns 6,520,884 shares of the financial services provider’s stock worth $880,971,000 after buying an additional 353,976 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in PNC Financial Services Group by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,960,617 shares of the financial services provider’s stock worth $264,880,000 after buying an additional 23,938 shares during the last quarter. Janus Henderson Group PLC raised its holdings in PNC Financial Services Group by 37.6% in the second quarter. Janus Henderson Group PLC now owns 1,603,307 shares of the financial services provider’s stock worth $216,609,000 after buying an additional 437,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in PNC Financial Services Group by 4.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,505,695 shares of the financial services provider’s stock worth $203,419,000 after buying an additional 66,364 shares during the last quarter. Finally, Provident Trust Co. raised its holdings in PNC Financial Services Group by 2.9% in the third quarter. Provident Trust Co. now owns 1,365,131 shares of the financial services provider’s stock worth $185,917,000 after buying an additional 38,183 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

PNC has been the subject of several research reports. Sanford C. Bernstein raised shares of PNC Financial Services Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $158.00 to $145.00 in a report on Monday, October 15th. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, October 12th. BMO Capital Markets decreased their price objective on shares of PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a report on Monday, October 15th. They noted that the move was a valuation call. Nomura decreased their price objective on shares of PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, October 15th. Finally, UBS Group set a $137.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Monday, October 15th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $154.62.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the completion of the transaction, the executive vice president now directly owns 131,020 shares in the company, valued at $18,406,999.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Shares of NYSE PNC opened at $128.49 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $57.93 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92. PNC Financial Services Group Inc has a 12-month low of $116.55 and a 12-month high of $163.59.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.09. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. During the same period in the previous year, the business posted $2.16 earnings per share. Equities research analysts anticipate that PNC Financial Services Group Inc will post 10.75 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be given a $0.95 dividend. The ex-dividend date is Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.96%. PNC Financial Services Group’s payout ratio is currently 44.71%.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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