Vinva Investment Management Ltd Reduces Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vinva Investment Management Ltd lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,956 shares of the financial services provider’s stock after selling 165 shares during the period. Vinva Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $2,555,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC grew its position in shares of The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group in the third quarter worth about $12,548,000. Bleakley Financial Group LLC increased its stake in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $822,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $18,159,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock worth $5,345,530 in the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4 %

The PNC Financial Services Group stock opened at $215.00 on Friday. The business has a 50-day simple moving average of $193.50 and a two-hundred day simple moving average of $176.17. The PNC Financial Services Group, Inc. has a 52-week low of $127.83 and a 52-week high of $216.18. 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 company has a market cap of $85.31 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.25 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. Analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley increased their price objective on shares of 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. Citigroup lifted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $189.15.

The PNC Financial Services Group 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.