Interchange Capital Partners LLC Sells 180 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Interchange Capital Partners LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,277 shares of the financial services provider’s stock after selling 180 shares during the period. Interchange Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital International Investors increased its stake in The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after purchasing an additional 78,407 shares during the period. Ameriprise Financial Inc. increased its stake in The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after buying an additional 18,397 shares during the period. Legal & General Group Plc lifted its holdings in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after buying an additional 223,955 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in The PNC Financial Services Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after buying an additional 100,993 shares during the period. Finally, Hsbc Holdings PLC grew its stake in The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after acquiring an additional 262,654 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Stephens raised their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Stock Up 1.6 %

Shares of The PNC Financial Services Group stock traded up $2.98 during trading on Friday, reaching $191.25. The company’s stock had a trading volume of 170,888 shares, compared to its average volume of 1,846,805. The PNC Financial Services Group, Inc. has a 1-year low of $114.51 and a 1-year high of $196.64. The company has a 50-day simple moving average of $183.75 and a two-hundred day simple moving average of $169.08. 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 company has a market cap of $76.02 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share 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 business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the company earned $3.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.35%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the transaction, the chief executive officer now directly owns 557,185 shares of the company’s stock, valued at $95,724,383. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now owns 557,185 shares of the company’s stock, valued at $95,724,383. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,279 shares of company stock worth $2,418,591. Company insiders own 0.42% of the company’s stock.

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.