AMP Capital Investors Ltd lowered its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 18.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,099 shares of the financial services provider’s stock after selling 69,224 shares during the quarter. AMP Capital Investors Ltd owned 0.06% of PNC Financial Services Group worth $40,040,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of PNC Financial Services Group by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 87,013 shares of the financial services provider’s stock valued at $11,727,000 after acquiring an additional 4,220 shares during the period. Synovus Financial Corp raised its holdings in shares of PNC Financial Services Group by 10.5% during the third quarter. Synovus Financial Corp now owns 9,466 shares of the financial services provider’s stock valued at $1,277,000 after acquiring an additional 901 shares during the period. Signature Financial Management Inc. raised its holdings in shares of PNC Financial Services Group by 24.7% during the third quarter. Signature Financial Management Inc. now owns 3,870 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 766 shares during the period. BB&T Investment Services Inc. raised its holdings in shares of PNC Financial Services Group by 73.0% during the third quarter. BB&T Investment Services Inc. now owns 6,631 shares of the financial services provider’s stock valued at $894,000 after acquiring an additional 2,798 shares during the period. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in shares of PNC Financial Services Group during the third quarter valued at approximately $15,899,000. Institutional investors and hedge funds own 81.57% of the company’s stock.

Shares of PNC Financial Services Group Inc (PNC) traded up $0.58 on Thursday, hitting $143.01. 1,554,700 shares of the stock traded hands, compared to its average volume of 2,197,134. PNC Financial Services Group Inc has a 52 week low of $110.97 and a 52 week high of $145.66. The firm has a market cap of $67,768.34, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the business posted $1.84 EPS. PNC Financial Services Group’s quarterly revenue was up 7.7% on a year-over-year basis. research analysts anticipate that PNC Financial Services Group Inc will post 8.44 EPS for the current year.

Several research analysts have weighed in on PNC shares. Zacks Investment Research lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. UBS upped their price objective on shares of PNC Financial Services Group from $133.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, October 16th. Wells Fargo & Company set a $135.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Thursday, October 19th. Royal Bank Of Canada upped their price objective on shares of PNC Financial Services Group from $130.00 to $145.00 and gave the company a “top pick” rating in a research note on Monday, October 16th. Finally, BidaskClub lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Sixteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $136.13.

In related news, insider Karen L. Larrimer sold 3,135 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction 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 approximately $2,801,104.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,640 shares of company stock worth $5,901,852. 0.43% of the stock is currently owned by company insiders.

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PNC Financial Services Group 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.

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

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