Today The Ballentine Partners LLC Reduces Stake in PNC Financial Services Group, Inc. (The) (PNC)

Today The Ballentine Partners LLC Reduces Stake in PNC Financial Services Group, Inc. (The) (PNC)

Ballentine Partners LLC cut its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 9,571 shares of the company’s stock after selling 304 shares during the period. Ballentine Partners LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $863,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Gierl Augustine Investment Management Inc increased its position in PNC Financial Services Group, Inc. (The) by 0.5% in the third quarter. Gierl Augustine Investment Management Inc now owns 2,200 shares of the company’s stock worth $198,000 after buying an additional 12 shares in the last quarter. Alpha Windward LLC increased its position in PNC Financial Services Group, Inc. (The) by 0.7% in the third quarter. Alpha Windward LLC now owns 2,994 shares of the company’s stock worth $270,000 after buying an additional 20 shares in the last quarter. First Financial Bank N.A. Trust Division increased its position in PNC Financial Services Group, Inc. (The) by 0.5% in the third quarter. First Financial Bank N.A. Trust Division now owns 4,775 shares of the company’s stock worth $431,000 after buying an additional 25 shares in the last quarter. MCF Advisors LLC increased its position in PNC Financial Services Group, Inc. (The) by 1.6% in the second quarter. MCF Advisors LLC now owns 2,238 shares of the company’s stock worth $182,000 after buying an additional 35 shares in the last quarter. Finally, Private Trust Co. NA increased its position in PNC Financial Services Group, Inc. (The) by 1.4% in the third quarter. Private Trust Co. NA now owns 2,826 shares of the company’s stock worth $254,000 after buying an additional 38 shares in the last quarter. 82.12% of the stock is owned by hedge funds and other institutional investors.

PNC Financial Services Group, Inc. (NYSE:PNC) traded up 1.10% during trading on Wednesday, reaching $119.96. The company’s stock had a trading volume of 457,508 shares. The stock’s 50 day moving average is $116.66 and its 200-day moving average is $97.89. PNC Financial Services Group, Inc. has a 52 week low of $77.40 and a 52 week high of $121.33. The firm has a market cap of $58.18 billion, a P/E ratio of 16.43 and a beta of 0.89.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, January 13th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.12. PNC Financial Services Group, Inc. (The) had a return on equity of 8.96% and a net margin of 23.90%. The business had revenue of $3.83 billion for the quarter. During the same period last year, the company earned $1.87 EPS. The company’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts forecast that PNC Financial Services Group, Inc. will post $7.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, January 12th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 30.10%.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Tuesday, November 15th. Vetr downgraded shares of PNC Financial Services Group, Inc. (The) from a “sell” rating to a “strong sell” rating and set a $95.30 price target for the company. in a report on Tuesday, November 15th. Barclays PLC boosted their price target on shares of PNC Financial Services Group, Inc. (The) from $97.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Deutsche Bank AG boosted their price target on shares of PNC Financial Services Group, Inc. (The) from $99.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, November 30th. Finally, Macquarie raised shares of PNC Financial Services Group, Inc. (The) from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. PNC Financial Services Group, Inc. (The) has an average rating of “Hold” and a consensus target price of $100.52.

In other news, insider Michael J. Hannon sold 25,000 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $95.28, for a total transaction of $2,382,000.00. Following the transaction, the insider now owns 79,573 shares of the company’s stock, valued at $7,581,715.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Q. Reilly sold 22,000 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $95.49, for a total value of $2,100,780.00. Following the transaction, the insider now directly owns 104,803 shares in the company, valued at approximately $10,007,638.47. The disclosure for this sale can be found here. Insiders have sold 310,309 shares of company stock worth $31,811,951 in the last ninety days. 0.57% of the stock is currently owned by insiders.

PNC Financial Services Group, Inc. (The) Company Profile

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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