Mutual of America Capital Management LLC Cuts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mutual of America Capital Management LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,950 shares of the financial services provider’s stock after selling 1,229 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The PNC Financial Services Group were worth $9,048,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Bank & Trust Co purchased a new position in The PNC Financial Services Group in the second quarter worth about $26,000. ORG Partners LLC lifted its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $33,000. Finally, Valley Wealth Managers Inc. lifted its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now directly owns 555,943 shares of the company’s stock, valued at $97,929,359.45. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,546 shares of company stock valued at $5,277,493. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PNC shares. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Barclays boosted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $186.96.

The PNC Financial Services Group Stock Down 0.1 %

NYSE:PNC opened at $207.68 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $127.08 and a 1-year high of $214.19. The company has a 50-day moving average of $188.25 and a 200 day moving average of $173.07. The firm has a market cap of $82.40 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 EPS. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.