Sumitomo Mitsui Trust Group Inc. Sells 21,846 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the third quarter, HoldingsChannel.com reports. The fund owned 914,940 shares of the financial services provider’s stock after selling 21,846 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in The PNC Financial Services Group were worth $169,127,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $26,000. ORG Partners LLC lifted its stake in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the period. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $28,000. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $38,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNC. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays raised 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 note on Wednesday, October 16th. Morgan Stanley upped their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada upped their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $185.71.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now owns 546,007 shares in the company, valued at $104,052,553.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,279 shares of company stock worth $2,442,673 over the last three months. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $211.04 on Wednesday. The company has a market capitalization of $83.74 billion, a PE ratio of 17.84, a PEG ratio of 2.22 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $186.02 and its 200-day moving average price is $171.55. The PNC Financial Services Group, Inc. has a twelve month low of $118.89 and a twelve month high of $211.40.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

The PNC Financial Services Group Company 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.