83,993 The PNC Financial Services Group, Inc $PNC Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 816,033 shares of the financial services provider's stock after selling 83,993 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of The PNC Financial Services Group worth $181,371,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Highland Investment Advisors LLC purchased a new stake in The PNC Financial Services Group in the 2nd quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $28,000. Wilkerson Advisory Group LLC lifted its holdings in shares of The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider's stock valued at $31,000 after buying an additional 71 shares during the period. NBT Bank N A NY lifted its holdings in shares of The PNC Financial Services Group by 96.3% in the 1st quarter. NBT Bank N A NY now owns 157 shares of the financial services provider's stock valued at $33,000 after buying an additional 77 shares during the period. Finally, Archer Investment Corp purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Up 0.0%

The PNC Financial Services Group stock opened at $227.88 on Monday. The PNC Financial Services Group, Inc has a fifty-two week low of $177.08 and a fifty-two week high of $258.96. The firm has a market capitalization of $90.91 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. The stock's fifty day moving average is $230.03 and its two-hundred day moving average is $228.88. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the previous year, the company posted $4.35 EPS. The business's revenue was up 10.9% on a year-over-year basis. Analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, October 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is 42.58%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PNC. Morgan Stanley dropped their price objective on The PNC Financial Services Group from $278.00 to $273.00 and set an "equal weight" rating on the stock in a report on Friday, October 16th. Robert W. Baird boosted their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Finally, Oppenheimer raised their price objective on shares of The PNC Financial Services Group from $263.00 to $269.00 and gave the company an "outperform" rating in a research note on Friday, October 16th. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.17.

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.

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