Angeles Investment Advisors LLC Trims Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Angeles Investment Advisors LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,820 shares of the financial services provider’s stock after selling 400 shares during the quarter. Angeles Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $521,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Haverford Trust Co raised its position in shares of The PNC Financial Services Group by 20.6% in the 3rd quarter. Haverford Trust Co now owns 13,238 shares of the financial services provider’s stock worth $2,447,000 after buying an additional 2,260 shares during the period. Victory Capital Management Inc. increased its holdings in The PNC Financial Services Group by 13.4% in the 3rd quarter. Victory Capital Management Inc. now owns 876,234 shares of the financial services provider’s stock valued at $161,972,000 after purchasing an additional 103,681 shares in the last quarter. Commonwealth Retirement Investments LLC increased its holdings in The PNC Financial Services Group by 2.3% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 15,104 shares of the financial services provider’s stock valued at $2,792,000 after purchasing an additional 341 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at $268,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at $230,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now directly owns 555,943 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,279 shares of company stock worth $2,442,673. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Up 1.4 %

Shares of NYSE:PNC traded up $2.92 during trading on Wednesday, reaching $213.96. 70,154 shares of the company traded hands, compared to its average volume of 1,866,347. The firm has a fifty day simple moving average of $186.55 and a 200 day simple moving average of $171.93. The firm has a market cap of $84.90 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $122.75 and a 1-year high of $213.96. 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 issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business posted $3.60 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 2.99%. The PNC Financial Services Group’s payout ratio is 54.10%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PNC shares. Citigroup raised their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.71.

About The PNC Financial Services Group

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.