The PNC Financial Services Group, Inc $PNC Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 38.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,718 shares of the financial services provider’s stock after selling 14,827 shares during the quarter. AustralianSuper Pty Ltd’s holdings in The PNC Financial Services Group were worth $4,766,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PNC. Westfuller Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $34,000. True Wealth Design LLC increased its holdings in shares of The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after buying an additional 204 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 147 shares during the last quarter. Corundum Trust Company INC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $49,000. Finally, Country Trust Bank boosted its stake in shares of The PNC Financial Services Group by 38.9% during the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Barclays boosted their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. JPMorgan Chase & Co. raised their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Finally, TD Cowen boosted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at $448,563.16. This represents a 79.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 64,186 shares of company stock valued at $14,840,973. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $213.91 on Thursday. The company has a market capitalization of $86.28 billion, a PE ratio of 12.89, a PEG ratio of 0.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50 day moving average price is $222.34 and its 200 day moving average price is $204.87. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the business posted $3.77 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s payout ratio is 40.99%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.