The PNC Financial Services Group, Inc $PNC Holdings Decreased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE trimmed its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 53.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,318 shares of the financial services provider’s stock after selling 2,627 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in The PNC Financial Services Group were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PNC. Vanguard Group Inc. lifted its position in shares of The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after purchasing an additional 408,464 shares in the last quarter. State Street Corp grew its position in The PNC Financial Services Group by 0.4% during the fourth quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock valued at $3,615,085,000 after purchasing an additional 77,302 shares in the last quarter. Capital International Investors grew its position in The PNC Financial Services Group by 10.2% during the fourth quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after purchasing an additional 1,101,055 shares in the last quarter. Norges Bank acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $1,967,080,000. Finally, Geode Capital Management LLC increased its stake in The PNC Financial Services Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock valued at $1,841,387,000 after buying an additional 30,078 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

PNC stock opened at $249.13 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $100.04 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.03 and a beta of 0.91. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $254.00. The firm has a 50 day moving average of $226.41 and a two-hundred day moving average of $220.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the firm earned $3.51 EPS. The PNC Financial Services Group’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.82 EPS for the current fiscal year.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,300 shares of company stock worth $10,694,574. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PNC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Stephens assumed coverage on shares of The PNC Financial Services Group in a research note on Monday, June 15th. They issued an “overweight” rating and a $265.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $252.71.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.