The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,950 shares of the financial services provider’s stock after selling 1,229 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The PNC Financial Services Group were worth $9,048,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Schear Investment Advisers LLC lifted its position in The PNC Financial Services Group by 15.5% during the 3rd quarter. Schear Investment Advisers LLC now owns 9,224 shares of the financial services provider’s stock worth $1,705,000 after acquiring an additional 1,239 shares during the period. Schneider Downs Wealth Management Advisors LP lifted its holdings in shares of The PNC Financial Services Group by 7.9% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 4,325 shares of the financial services provider’s stock worth $799,000 after purchasing an additional 315 shares during the period. Coastline Trust Co acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth about $104,000. Gouws Capital LLC purchased a new stake in The PNC Financial Services Group in the third quarter valued at approximately $203,000. Finally, Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Barclays boosted their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two 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. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $186.96.

The PNC Financial Services Group Stock Performance

PNC opened at $207.68 on Monday. The firm’s fifty day simple moving average is $188.25 and its two-hundred day simple moving average is $173.07. The PNC Financial Services Group, Inc. has a 52-week low of $127.08 and a 52-week high of $214.19. The company has a market cap of $82.40 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.17 and a beta of 1.13. 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 posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.39 billion. During the same period in the previous year, the firm posted $3.60 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.08%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now directly owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,546 shares of company stock worth $5,277,493. Corporate insiders own 0.42% of the company’s stock.

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.