BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 55,829 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 32.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,416 shares of the financial services provider’s stock after selling 55,829 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in The PNC Financial Services Group were worth $21,889,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CreativeOne Wealth LLC raised its position in shares of The PNC Financial Services Group by 182.7% during the first quarter. CreativeOne Wealth LLC now owns 4,283 shares of the financial services provider’s stock valued at $692,000 after buying an additional 2,768 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of The PNC Financial Services Group by 43.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 287,126 shares of the financial services provider’s stock worth $46,400,000 after acquiring an additional 87,621 shares during the period. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $243,000. Kestra Advisory Services LLC increased its position in shares of The PNC Financial Services Group by 6.6% during the first quarter. Kestra Advisory Services LLC now owns 100,781 shares of the financial services provider’s stock valued at $16,286,000 after purchasing an additional 6,254 shares during the period. Finally, Ascent Group LLC raised its stake in shares of The PNC Financial Services Group by 15.0% in the first quarter. Ascent Group LLC now owns 6,826 shares of the financial services provider’s stock valued at $1,103,000 after purchasing an additional 889 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $210.07 on Friday. 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’s 50 day moving average is $191.01 and its 200-day moving average is $174.58. The PNC Financial Services Group, Inc. has a 1 year low of $127.15 and a 1 year high of $214.19. The firm has a market capitalization of $83.35 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.14 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 EPS. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analyst Ratings Changes

PNC has been the topic of several analyst reports. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their target price on shares of 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. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $186.96.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on 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 completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock worth $5,317,200 in the last quarter. 0.42% of the stock is owned by company insiders.

About The PNC Financial Services Group

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.