Candriam S.C.A. Trims Stock Position in The PNC Financial Services Group, Inc $PNC

Candriam S.C.A. decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 32.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,490 shares of the financial services provider’s stock after selling 78,490 shares during the period. Candriam S.C.A.’s holdings in The PNC Financial Services Group were worth $30,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the last quarter. CWM LLC boosted its position in shares of The PNC Financial Services Group by 50.4% in the 1st quarter. CWM LLC now owns 23,676 shares of the financial services provider’s stock valued at $4,162,000 after purchasing an additional 7,931 shares during the period. Bridgewater Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $363,000. Bryn Mawr Capital Management LLC grew its stake in The PNC Financial Services Group by 28.5% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 2,817 shares of the financial services provider’s stock worth $495,000 after buying an additional 624 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in The PNC Financial Services Group by 2.7% during the first quarter. Victory Capital Management Inc. now owns 946,524 shares of the financial services provider’s stock worth $166,371,000 after buying an additional 24,524 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNC. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. UBS Group upped their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.47.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,151 shares of company stock worth $400,092. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 1.6%

Shares of NYSE:PNC opened at $183.96 on Friday. The company has a market cap of $72.14 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.26 and a beta of 1.12. The firm’s 50-day simple moving average is $192.10 and its 200-day simple moving average is $187.68. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the company posted $3.49 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

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.