Brown Brothers Harriman & Co. Has $4 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brown Brothers Harriman & Co. decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,653 shares of the financial services provider’s stock after selling 261 shares during the period. Brown Brothers Harriman & Co.’s holdings in The PNC Financial Services Group were worth $4,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its holdings in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of The PNC Financial Services Group by 2.9% in the third quarter. Independent Advisor Alliance now owns 15,955 shares of the financial services provider’s stock valued at $2,949,000 after purchasing an additional 454 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in The PNC Financial Services Group in the 3rd quarter valued at about $171,000. Daiwa Securities Group Inc. increased its position in The PNC Financial Services Group by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 48,511 shares of the financial services provider’s stock worth $8,967,000 after buying an additional 5,135 shares during the period. Finally, SevenBridge Financial Group LLC raised its stake in The PNC Financial Services Group by 6.4% in the 3rd quarter. SevenBridge Financial Group LLC now owns 20,112 shares of the financial services provider’s stock worth $3,718,000 after purchasing an additional 1,213 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 1.1 %

NYSE PNC opened at $212.39 on Tuesday. The stock’s 50-day simple moving average is $191.64 and its two-hundred day simple moving average is $175.22. The company has a market capitalization of $84.27 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.20 and a beta of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $127.49 and a twelve month high of $214.64. 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 (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Research 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 disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the sale, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was 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 owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,573,027 in the last 90 days. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PNC shares. Stephens upped their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup upped their price target 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. 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 stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $189.15.

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.