Murphy Pohlad Asset Management LLC Lowers Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Murphy Pohlad Asset Management LLC decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,229 shares of the financial services provider’s stock after selling 1,455 shares during the quarter. The PNC Financial Services Group accounts for about 1.3% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 29th biggest position. Murphy Pohlad Asset Management LLC’s holdings in The PNC Financial Services Group were worth $3,185,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PNC. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PNC shares. Stephens lifted their price objective 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 downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group cut their price objective 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. Royal Bank of Canada boosted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, Barclays boosted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.71.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Martin Pfinsgraff sold 859 shares of the 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 transaction, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the transaction, the chief executive officer now directly owns 557,185 shares in the company, valued at $95,724,383. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,279 shares of company stock valued at $2,418,591 in the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.6 %

PNC stock opened at $187.15 on Friday. The business has a fifty day simple moving average of $183.94 and a 200-day simple moving average of $169.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 52 week low of $114.51 and a 52 week high of $196.64. The company has a market cap of $74.39 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.02 and a beta of 1.14.

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 for the quarter, topping analysts’ consensus estimates 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 net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.60 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.42%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

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.