Todays Report: Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Sold shares of PNC Financial Services Group Inc. (PNC)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Sold shares of PNC Financial Services Group Inc. (PNC)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decreased its stake in shares of PNC Financial Services Group Inc. (NYSE:PNC) by 64.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the company’s stock after selling 73,700 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in PNC Financial Services Group were worth $3,676,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PNC. Svenska Handelsbanken AB publ acquired a new stake in shares of PNC Financial Services Group during the second quarter valued at approximately $9,921,000. Perkins Coie Trust Co raised its stake in shares of PNC Financial Services Group by 6.9% in the second quarter. Perkins Coie Trust Co now owns 22,096 shares of the company’s stock valued at $1,798,000 after buying an additional 1,423 shares during the last quarter. Trust Co raised its stake in shares of PNC Financial Services Group by 7.0% in the first quarter. Trust Co now owns 11,147 shares of the company’s stock valued at $943,000 after buying an additional 732 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in shares of PNC Financial Services Group by 5.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 129,250 shares of the company’s stock valued at $10,520,000 after buying an additional 7,243 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in shares of PNC Financial Services Group by 2.2% in the second quarter. DNB Asset Management AS now owns 46,055 shares of the company’s stock valued at $3,748,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 80.37% of the company’s stock.

PNC Financial Services Group Inc. (NYSE:PNC) traded up 0.84% during trading on Friday, hitting $112.07. The stock had a trading volume of 1,047,854 shares. The company has a market cap of $54.52 billion, a price-to-earnings ratio of 15.58 and a beta of 0.82. PNC Financial Services Group Inc. has a 52-week low of $77.40 and a 52-week high of $112.07. The company has a 50-day moving average price of $98.27 and a 200-day moving average price of $89.18.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.06. PNC Financial Services Group had a return on equity of 9.04% and a net margin of 23.77%. The firm had revenue of $3.83 billion for the quarter. During the same period in the prior year, the firm earned $1.90 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts forecast that PNC Financial Services Group Inc. will post $7.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 17th were given a $0.55 dividend. The ex-dividend date was Thursday, October 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.96%. PNC Financial Services Group’s dividend payout ratio is currently 30.51%.

Several brokerages recently commented on PNC. Zacks Investment Research lowered PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Thursday. Vetr lowered PNC Financial Services Group from a “sell” rating to a “strong sell” rating and set a $95.30 price target on the stock. in a report on Tuesday, November 15th. RBC Capital Markets reiterated a “buy” rating and issued a $95.00 price target on shares of PNC Financial Services Group in a report on Thursday, November 3rd. Barclays PLC reiterated a “hold” rating and issued a $97.00 price target on shares of PNC Financial Services Group in a report on Tuesday, October 11th. Finally, Raymond James Financial Inc. upgraded PNC Financial Services Group from an “underperform” rating to a “market perform” rating in a report on Thursday, October 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the stock. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $97.20.

In related news, insider Joseph E. Rockey sold 16,400 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $92.93, for a total value of $1,524,052.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 179,809 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $107.61, for a total transaction of $19,349,246.49. Following the completion of the transaction, the chief executive officer now owns 531,755 shares of the company’s stock, valued at $57,222,155.55. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

About PNC Financial Services Group

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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