The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 78.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,097 shares of the financial services provider’s stock after selling 80,416 shares during the quarter. Quadrature Capital Ltd’s holdings in The PNC Financial Services Group were worth $3,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PNC. Van ECK Associates Corp grew its stake in The PNC Financial Services Group by 9.6% in the 3rd quarter. Van ECK Associates Corp now owns 67,837 shares of the financial services provider’s stock valued at $8,328,000 after acquiring an additional 5,924 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in The PNC Financial Services Group by 37.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 4,107 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 1,129 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in The PNC Financial Services Group by 0.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 287,560 shares of the financial services provider’s stock valued at $35,304,000 after acquiring an additional 2,400 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in The PNC Financial Services Group by 15.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,076 shares of the financial services provider’s stock valued at $9,831,000 after purchasing an additional 10,470 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in The PNC Financial Services Group by 2.5% in the 3rd quarter. Blair William & Co. IL now owns 18,021 shares of the financial services provider’s stock valued at $2,212,000 after purchasing an additional 447 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.6 %

NYSE PNC traded up $0.91 during mid-day trading on Friday, hitting $155.88. The company’s stock had a trading volume of 698,758 shares, compared to its average volume of 1,459,393. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The stock’s fifty day simple moving average is $155.62 and its two-hundred day simple moving average is $151.07. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $62.03 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 3.01 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $3.98 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PNC shares. Jefferies Financial Group reduced their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $157.83.

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.