Sumitomo Mitsui Trust Group Inc. Sells 21,846 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 914,940 shares of the financial services provider’s stock after selling 21,846 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of The PNC Financial Services Group worth $169,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PNC. Bank & Trust Co bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $26,000. ORG Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the period. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at about $28,000. Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group in the 2nd quarter valued at about $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth approximately $38,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff sold 859 shares of the firm’s 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 completion of the transaction, the director now owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at $97,929,359.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was 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 in the company, valued at $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,279 shares of company stock worth $2,442,673 in the last 90 days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.6 %

Shares of NYSE PNC opened at $211.04 on Wednesday. The company has a market cap of $83.74 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.22 and a beta of 1.13. 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 PNC Financial Services Group, Inc. has a 12 month low of $118.89 and a 12 month high of $211.40. The stock has a 50-day moving average price of $186.02 and a two-hundred day moving average price of $171.55.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the company earned $3.60 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PNC. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada increased their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $185.71.

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.