Epoch Investment Partners Inc. Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Epoch Investment Partners Inc. cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.7% in the 2nd quarter, Holdings Channel reports. The fund owned 440,604 shares of the financial services provider’s stock after selling 88,488 shares during the quarter. Epoch Investment Partners Inc.’s holdings in The PNC Financial Services Group were worth $84,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cypress Point Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $25,000. Paragon Wealth Strategies LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $26,000. Financial Advantage Inc. raised its stake in The PNC Financial Services Group by 50.7% during the 2nd quarter. Financial Advantage Inc. now owns 743 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 250 shares during the last quarter. Strategic Blueprint LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $35,000. Finally, MV Capital Management Inc. increased its position in The PNC Financial Services Group by 39.0% during the 2nd quarter. MV Capital Management Inc. now owns 221 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 62 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 4,200 shares of the stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $184.16, for a total transaction of $773,472.00. Following the sale, the executive vice president now owns 47,625 shares in the company, valued at approximately $8,770,620. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 4,575 shares of company stock worth $845,158. 0.30% of the stock is owned by insiders.

Several research firms have issued reports on PNC. Credit Suisse Group boosted their target price on The PNC Financial Services Group from $190.00 to $192.00 and gave the stock a “neutral” rating in a research report on Monday, July 19th. Oppenheimer set a $189.50 target price on The PNC Financial Services Group and gave the stock a “hold” rating in a research report on Friday, July 16th. Citigroup cut The PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research report on Friday, October 1st. Wolfe Research upgraded The PNC Financial Services Group from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $194.00 to $252.00 in a research report on Friday, July 2nd. Finally, Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $201.00 to $221.00 and gave the stock a “hold” rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $192.63.

NYSE:PNC traded up $0.08 during trading hours on Thursday, reaching $201.84. 19,367 shares of the company traded hands, compared to its average volume of 1,755,996. The firm’s 50-day moving average is $192.65 and its 200-day moving average is $188.85. The stock has a market cap of $85.75 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group, Inc. has a 1-year low of $106.85 and a 1-year high of $204.93.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 13th. The financial services provider reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.34). The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.40 billion. The PNC Financial Services Group had a net margin of 32.72% and a return on equity of 12.53%. The PNC Financial Services Group’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $8.40 EPS. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 14.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 5th. Shareholders of record on Friday, October 15th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 78.62%.

The PNC Financial Services Group Company Profile

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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

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