The Manufacturers Life Insurance Company Decreases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

The Manufacturers Life Insurance Company lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 396,482 shares of the financial services provider’s stock after selling 22,044 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in The PNC Financial Services Group were worth $73,290,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Private Trust Co. NA boosted its stake in shares of The PNC Financial Services Group by 3.6% in the 3rd quarter. Private Trust Co. NA now owns 9,944 shares of the financial services provider’s stock worth $1,838,000 after buying an additional 341 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 50 shares during the last quarter. Independent Advisor Alliance boosted its position in The PNC Financial Services Group by 2.9% in the third quarter. Independent Advisor Alliance now owns 15,955 shares of the financial services provider’s stock worth $2,949,000 after purchasing an additional 454 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at about $171,000. Finally, Daiwa Securities Group Inc. increased its position in shares of The PNC Financial Services Group by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 48,511 shares of the financial services provider’s stock valued at $8,967,000 after purchasing an additional 5,135 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4 %

Shares of PNC stock opened at $215.00 on Thursday. The stock’s 50-day moving average price is $192.94 and its 200-day moving average price is $175.90. The PNC Financial Services Group, Inc. has a 12-month low of $127.83 and a 12-month high of $216.18. The stock has a market capitalization of $85.31 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) 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 period in the prior year, the firm earned $3.60 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid 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 2.98%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction 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 directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $205.98, for a total transaction of $255,827.16. Following the completion of the sale, the chief executive officer now directly owns 535,007 shares in the company, valued at approximately $110,200,741.86. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock worth $5,573,027 in the last three months. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PNC shares. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Barclays upped their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Two 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 stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $189.15.

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.