Mutual of America Capital Management LLC Cuts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mutual of America Capital Management LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 55,746 shares of the financial services provider’s stock after selling 1,681 shares during the period. Mutual of America Capital Management LLC’s holdings in The PNC Financial Services Group were worth $6,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. 1832 Asset Management L.P. lifted its holdings in The PNC Financial Services Group by 33.5% during the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after buying an additional 67 shares during the period. KCM Investment Advisors LLC boosted its position in The PNC Financial Services Group by 7.1% during the first quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 79 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in The PNC Financial Services Group by 2.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 82 shares during the last quarter. Holderness Investments Co. raised its holdings in The PNC Financial Services Group by 3.2% in the second quarter. Holderness Investments Co. now owns 2,830 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 87 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of The PNC Financial Services Group by 1.2% during the second quarter. Private Trust Co. NA now owns 7,437 shares of the financial services provider’s stock valued at $937,000 after buying an additional 89 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 0.1 %

NYSE:PNC opened at $147.77 on Friday. The firm has a market capitalization of $58.86 billion, a P/E ratio of 11.55, a PEG ratio of 1.72 and a beta of 1.19. The company’s fifty day moving average price is $149.87 and its 200-day moving average price is $132.51. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $161.77. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.49 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.29 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 48.48%.

Analysts Set New Price Targets

Several brokerages have weighed in on PNC. StockNews.com downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. Morgan Stanley increased their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective on the stock in a report on Thursday, December 14th. Finally, UBS Group lifted their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $146.59.

Read Our Latest Research Report on PNC

Insider Activity at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,533 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $132.51, for a total transaction of $203,137.83. Following the sale, the executive vice president now directly owns 17,092 shares of the company’s stock, valued at approximately $2,264,860.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company’s stock.

The PNC Financial Services Group Company Profile

(Free Report)

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 certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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