Healthcare of Ontario Pension Plan Trust Fund Reduces Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 55.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 206,100 shares of the financial services provider’s stock after selling 251,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.05% of The PNC Financial Services Group worth $38,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC lifted its holdings in 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 worth $26,000 after buying an additional 110 shares during the period. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $26,000. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Valley Wealth Managers Inc. lifted its stake in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Finally, Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4 %

Shares of NYSE PNC opened at $215.00 on Thursday. The business’s 50 day moving average is $192.94 and its two-hundred day moving average is $175.90. 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 $127.83 and a 1-year high of $216.18. The stock has a market capitalization of $85.31 billion, a P/E ratio of 18.17, a PEG ratio of 2.22 and a beta of 1.13.

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 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 company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend 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 dividend payout ratio is 54.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PNC. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods raised their target price 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. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $189.15.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the completion of the sale, the chief executive officer now owns 535,007 shares in the company, valued at approximately $110,200,741.86. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,788 shares of company stock valued at $5,573,027. 0.42% of the stock is currently owned by insiders.

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.