The PNC Financial Services Group, Inc $PNC Stock: Conning Inc. Lowers Position

Conning Inc. trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.1% during the 3rd quarter, Holdings Channel reports. The fund owned 166,153 shares of the financial services provider’s stock after selling 3,622 shares during the quarter. Conning Inc.’s holdings in The PNC Financial Services Group were worth $36,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Victory Financial Group LLC purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $307,000. Generali Asset Management SPA SGR grew its stake in shares of The PNC Financial Services Group by 9.9% during the 3rd quarter. Generali Asset Management SPA SGR now owns 37,881 shares of the financial services provider’s stock worth $8,419,000 after purchasing an additional 3,427 shares during the period. Investment Advisory Services Inc. TX ADV grew its stake in shares of The PNC Financial Services Group by 5.8% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 1,282 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 70 shares during the period. SYM FINANCIAL Corp increased its holdings in shares of The PNC Financial Services Group by 4.2% during the 3rd quarter. SYM FINANCIAL Corp now owns 3,781 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 153 shares in the last quarter. Finally, Ashton Thomas Securities LLC increased its holdings in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Ashton Thomas Securities LLC now owns 1,251 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 103 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $228.32 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96. The business’s 50 day moving average is $230.62 and its two-hundred day moving average is $228.75. The company has a market capitalization of $91.08 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.16 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.35 earnings per share. Analysts expect that The PNC Financial Services Group, Inc will post 19.22 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.58%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. HSBC raised their price target on shares of The PNC Financial Services Group from $275.00 to $283.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Raymond James Financial cut their price objective on shares of The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Barclays upped their price objective on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $266.13.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.