Northwestern Mutual Wealth Management Co. Trims Position in The PNC Financial Services Group, Inc $PNC

Northwestern Mutual Wealth Management Co. cut its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,015 shares of the financial services provider’s stock after selling 370 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in The PNC Financial Services Group were worth $7,459,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PNC. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Saudi Central Bank bought a new position in The PNC Financial Services Group in the 1st quarter valued at $27,000. Concord Wealth Partners grew its position in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of The PNC Financial Services Group in the second quarter worth $37,000. Finally, WPG Advisers LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth $36,000. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction dated 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 owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

PNC opened at $192.48 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $75.48 billion, a P/E ratio of 12.43, a PEG ratio of 1.26 and a beta of 1.12. The stock has a 50-day moving average price of $188.26 and a 200-day moving average price of $189.63. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.13.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analysts Set New Price Targets

Several research firms recently issued reports on PNC. Evercore ISI lifted their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Raymond James Financial raised their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. UBS Group boosted their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Citigroup raised their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $218.00.

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.