Tower Bridge Advisors lessened its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 60.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,542 shares of the financial services provider’s stock after selling 3,872 shares during the period. Tower Bridge Advisors’ holdings in PNC Financial Services Group, Inc. (The) were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. Proficio Capital Partners LLC increased its holdings in PNC Financial Services Group, Inc. (The) by 1,365.4% in the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 710 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in PNC Financial Services Group, Inc. (The) by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 91 shares in the last quarter. First Interstate Bank increased its holdings in PNC Financial Services Group, Inc. (The) by 2.6% in the 2nd quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 25 shares in the last quarter. Atlantic Trust LLC acquired a new position in PNC Financial Services Group, Inc. (The) in the 2nd quarter worth about $129,000. Finally, Legacy Advisors LLC acquired a new position in PNC Financial Services Group, Inc. (The) in the 3rd quarter worth about $136,000. 81.19% of the stock is owned by institutional investors and hedge funds.

In other PNC Financial Services Group, Inc. (The) news, insider Orlando C. Esposito sold 4,505 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $138.85, for a total value of $625,519.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the sale, the insider now directly owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The disclosure for this sale can be found here. Insiders sold 12,640 shares of company stock valued at $1,729,952 over the last three months. Company insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at $132.23 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $63,034.13, a P/E ratio of 16.18, a P/E/G ratio of 1.77 and a beta of 0.91. PNC Financial Services Group, Inc. has a 52-week low of $105.47 and a 52-week high of $139.23.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.03. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. PNC Financial Services Group, Inc. (The)’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.84 earnings per share. research analysts anticipate that PNC Financial Services Group, Inc. will post 8.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.63%.

Several brokerages have recently weighed in on PNC. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Nomura increased their price target on PNC Financial Services Group, Inc. (The) from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. J P Morgan Chase & Co increased their price target on PNC Financial Services Group, Inc. (The) from $139.50 to $140.50 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Citigroup Inc. reissued a “neutral” rating and issued a $144.00 price target (up previously from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, October 9th. Finally, Instinet reissued a “neutral” rating and issued a $132.00 price target (up previously from $129.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Saturday, September 30th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $133.99.

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PNC Financial Services Group, Inc. (The) Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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