The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Reduced by Atom Investors LP

Atom Investors LP lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,368 shares of the financial services provider’s stock after selling 21,920 shares during the quarter. The PNC Financial Services Group makes up approximately 0.9% of Atom Investors LP’s holdings, making the stock its 13th biggest position. Atom Investors LP’s holdings in The PNC Financial Services Group were worth $8,941,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group by 125.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,984 shares of the financial services provider’s stock worth $304,000 after buying an additional 1,103 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of The PNC Financial Services Group by 121.3% in the second quarter. GAMMA Investing LLC now owns 4,194 shares of the financial services provider’s stock worth $652,000 after buying an additional 2,299 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the second quarter worth about $26,000. Mather Group LLC. lifted its position in shares of The PNC Financial Services Group by 28.0% in the second quarter. Mather Group LLC. now owns 8,002 shares of the financial services provider’s stock worth $1,293,000 after buying an additional 1,750 shares during the last quarter. Finally, First Bank & Trust lifted its position in shares of The PNC Financial Services Group by 0.5% in the second quarter. First Bank & Trust now owns 16,917 shares of the financial services provider’s stock worth $2,630,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on 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. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $189.15.

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of the 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 sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,546 shares of company stock worth $5,345,530. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

The PNC Financial Services Group stock opened at $214.72 on Monday. The business has a 50 day moving average price of $194.07 and a two-hundred day moving average price of $176.79. 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 stock has a market cap of $85.20 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $132.11 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating 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 analyst estimates of $5.39 billion. During the same period in the prior year, the company posted $3.60 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.