Seeyond Sells 720 Shares of PNC Financial Services Group Inc (NYSE:PNC)
Seeyond trimmed its position in PNC Financial Services Group Inc (NYSE:PNC) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,898 shares of the financial services provider’s stock after selling 720 shares during the quarter. Seeyond’s holdings in PNC Financial Services Group were worth $1,496,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMA Wealth Inc. bought a new stake in PNC Financial Services Group during the first quarter valued at about $25,000. Penserra Capital Management LLC bought a new position in shares of PNC Financial Services Group in the first quarter worth about $25,000. Westside Investment Management Inc. purchased a new stake in shares of PNC Financial Services Group during the second quarter worth about $29,000. Meridian Wealth Management LLC purchased a new stake in shares of PNC Financial Services Group during the first quarter worth about $33,000. Finally, Private Ocean LLC raised its stake in PNC Financial Services Group by 63.5% during the 1st quarter. Private Ocean LLC now owns 322 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 125 shares during the period. Institutional investors own 80.83% of the company’s stock.
In other PNC Financial Services Group news, CEO William S. Demchak sold 75,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $140.63, for a total transaction of $10,547,250.00. Following the completion of the transaction, the chief executive officer now owns 657,179 shares in the company, valued at $92,419,082.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory H. Kozich sold 3,441 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $144.24, for a total transaction of $496,329.84. Following the transaction, the insider now owns 6,639 shares of the company’s stock, valued at approximately $957,609.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,242 shares of company stock valued at $19,853,468. 0.37% of the stock is currently owned by insiders.
PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.05. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.72 EPS. On average, equities analysts predict that PNC Financial Services Group Inc will post 11.27 EPS for the current fiscal year.
A number of research analysts recently commented on the company. Robert W. Baird set a $141.00 price target on PNC Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley set a $141.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $143.22.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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