Twin Capital Management Inc. reduced its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 33.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,680 shares of the financial services provider’s stock after selling 27,050 shares during the quarter. Twin Capital Management Inc.’s holdings in PNC Financial Services Group were worth $7,369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its holdings in shares of PNC Financial Services Group by 38.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 102,076 shares of the financial services provider’s stock valued at $13,979,000 after purchasing an additional 28,119 shares during the last quarter. Sandy Spring Bank grew its stake in shares of PNC Financial Services Group by 490.3% in the second quarter. Sandy Spring Bank now owns 49,247 shares of the financial services provider’s stock valued at $6,761,000 after acquiring an additional 40,904 shares in the last quarter. Coastal Investment Advisors Inc. grew its stake in shares of PNC Financial Services Group by 106.1% in the second quarter. Coastal Investment Advisors Inc. now owns 1,286 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 662 shares in the last quarter. Provident Trust Co. grew its stake in shares of PNC Financial Services Group by 5.6% in the second quarter. Provident Trust Co. now owns 1,634,479 shares of the financial services provider’s stock valued at $224,381,000 after acquiring an additional 87,388 shares in the last quarter. Finally, Tdam USA Inc. grew its stake in shares of PNC Financial Services Group by 1.7% in the second quarter. Tdam USA Inc. now owns 13,367 shares of the financial services provider’s stock valued at $1,835,000 after acquiring an additional 224 shares in the last quarter. 81.65% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently commented on PNC. Morgan Stanley set a $141.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Friday, August 9th. ValuEngine downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $143.41.

PNC Financial Services Group stock traded down $0.57 during trading hours on Thursday, reaching $124.05. 75,756 shares of the stock were exchanged, compared to its average volume of 2,141,141. The company has a market cap of $57.28 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.67 and a beta of 1.07. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $147.00. The stock has a 50 day moving average price of $138.28.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.05. The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.72 earnings per share. On average, sell-side analysts predict that PNC Financial Services Group Inc will post 11.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were issued a $1.15 dividend. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s dividend payout ratio is 42.95%.

In other news, insider Karen L. Larrimer sold 7,806 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $142.27, for a total value of $1,110,559.62. Following the completion of the transaction, the insider now owns 30,978 shares of the company’s stock, valued at $4,407,240.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory H. Kozich sold 3,441 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $144.24, for a total transaction of $496,329.84. Following the completion of the transaction, the insider now directly owns 6,639 shares of the company’s stock, valued at approximately $957,609.36. The disclosure for this sale can be found here. Insiders sold 141,242 shares of company stock valued at $19,853,468 in the last three months. Company insiders own 0.37% of the company’s stock.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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