Stock Yards Bank & Trust Co. lowered its stake in PNC Financial Services Group Inc. (NYSE:PNC) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,957 shares of the company’s stock after selling 1,125 shares during the period. Stock Yards Bank & Trust Co.’s holdings in PNC Financial Services Group were worth $4,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wright Investors Service Inc. boosted its position in shares of PNC Financial Services Group by 3.6% in the second quarter. Wright Investors Service Inc. now owns 9,907 shares of the company’s stock valued at $806,000 after buying an additional 346 shares in the last quarter. Cincinnati Financial Corp boosted its position in shares of PNC Financial Services Group by 14.3% in the second quarter. Cincinnati Financial Corp now owns 473,000 shares of the company’s stock valued at $38,497,000 after buying an additional 59,000 shares in the last quarter. Huntington National Bank boosted its position in shares of PNC Financial Services Group by 14.6% in the second quarter. Huntington National Bank now owns 275,683 shares of the company’s stock valued at $22,438,000 after buying an additional 35,206 shares in the last quarter. RNC Capital Management LLC boosted its position in shares of PNC Financial Services Group by 0.5% in the second quarter. RNC Capital Management LLC now owns 222,243 shares of the company’s stock valued at $18,088,000 after buying an additional 1,150 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position in shares of PNC Financial Services Group by 3.5% in the second quarter. Commonwealth Bank of Australia now owns 69,691 shares of the company’s stock valued at $5,671,000 after buying an additional 2,372 shares in the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

Shares of PNC Financial Services Group Inc. (NYSE:PNC) traded down 0.49% during midday trading on Tuesday, reaching $109.26. 3,943,566 shares of the company were exchanged. The stock has a market capitalization of $53.16 billion, a price-to-earnings ratio of 15.19 and a beta of 0.82. PNC Financial Services Group Inc. has a 52-week low of $77.40 and a 52-week high of $112.07. The company’s 50-day moving average price is $98.79 and its 200 day moving average price is $89.39.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.78 by $0.06. PNC Financial Services Group had a net margin of 23.77% and a return on equity of 9.04%. The business earned $3.83 billion during the quarter. During the same period in the prior year, the company earned $1.90 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts predict that PNC Financial Services Group Inc. will post $7.16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 7th. Investors of record on Monday, October 17th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, October 13th. PNC Financial Services Group’s dividend payout ratio is presently 30.51%.

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A number of research firms recently commented on PNC. BMO Capital Markets upgraded PNC Financial Services Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $94.00 to $101.00 in a report on Monday, September 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 22nd. Vetr upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $94.63 price objective on the stock in a report on Wednesday, October 12th. Argus upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $88.03 to $98.00 in a report on Monday, October 17th. Finally, Barclays PLC reiterated a “hold” rating and issued a $97.00 price objective on shares of PNC Financial Services Group in a report on Tuesday, October 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $97.20.

In other news, CEO William S. Demchak sold 179,809 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $107.61, for a total transaction of $19,349,246.49. Following the sale, the chief executive officer now owns 531,755 shares in the company, valued at $57,222,155.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph E. Rockey sold 16,400 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $92.93, for a total transaction of $1,524,052.00. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

5 Day Chart for NYSE:PNC

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