Jones Financial Companies Lllp cut its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.3% during the third quarter, HoldingsChannel reports. The firm owned 59,661 shares of the financial services provider’s stock after selling 764 shares during the period. Jones Financial Companies Lllp’s holdings in PNC Financial Services Group were worth $8,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new stake in PNC Financial Services Group during the third quarter valued at approximately $118,000. Rational Advisors LLC lifted its position in PNC Financial Services Group by 248.4% during the third quarter. Rational Advisors LLC now owns 899 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 641 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in PNC Financial Services Group during the third quarter valued at approximately $127,000. Landaas & Co. WI ADV purchased a new stake in PNC Financial Services Group during the second quarter valued at approximately $147,000. Finally, Archford Capital Strategies LLC lifted its position in PNC Financial Services Group by 197.0% during the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 79.09% of the company’s stock.

A number of equities research analysts recently commented on the stock. Vining Sparks reissued a “buy” rating and set a $160.00 target price on shares of PNC Financial Services Group in a research report on Tuesday, October 9th. ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. BMO Capital Markets decreased their target price on shares of PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a research report on Monday, October 15th. They noted that the move was a valuation call. Nomura decreased their target price on shares of PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, October 15th. Finally, UBS Group set a $137.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Monday, October 15th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $155.50.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the completion of the transaction, the executive vice president now owns 131,020 shares of the company’s stock, valued at $18,406,999.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.

NYSE PNC opened at $136.39 on Monday. The firm has a market capitalization of $62.93 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.34 and a beta of 0.92. PNC Financial Services Group Inc has a 12-month low of $116.55 and a 12-month high of $163.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.90 and a quick ratio of 0.89.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.09. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. During the same quarter last year, the company posted $2.16 earnings per share. As a group, equities analysts anticipate that PNC Financial Services Group Inc will post 10.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th were issued a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.79%. PNC Financial Services Group’s dividend payout ratio is currently 44.71%.

PNC Financial Services Group announced that its board has authorized a share buyback program on Thursday, November 8th that allows the company to repurchase $900.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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