The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,072 shares of the financial services provider’s stock after selling 4,112 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in The PNC Financial Services Group were worth $40,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its stake in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new stake in The PNC Financial Services Group during the third quarter valued at $12,548,000. Bleakley Financial Group LLC increased its holdings in The PNC Financial Services Group by 9.0% in 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 buying an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group in the second quarter worth about $822,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $18,159,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the sale, the chief executive officer now owns 550,975 shares in the company, valued at $102,729,288.75. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,546 shares of company stock worth $5,345,530. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent analyst reports. Barclays lifted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their target price on 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. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a 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 increased their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $189.15.

The PNC Financial Services Group Trading Down 1.6 %

Shares of The PNC Financial Services Group stock opened at $211.33 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $194.07 and its 200-day simple moving average is $176.79. The stock has a market cap of $83.85 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.25 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 1-year low of $136.40 and a 1-year high of $216.26.

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, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS 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 given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

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.