Dean Investment Associates LLC Sells 1,660 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Dean Investment Associates LLC cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,671 shares of the financial services provider’s stock after selling 1,660 shares during the quarter. The PNC Financial Services Group makes up approximately 1.0% of Dean Investment Associates LLC’s holdings, making the stock its 14th largest holding. Dean Investment Associates LLC’s holdings in The PNC Financial Services Group were worth $7,333,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Zacks Investment Management grew its stake in shares of The PNC Financial Services Group by 11.8% in the third quarter. Zacks Investment Management now owns 432,606 shares of the financial services provider’s stock worth $79,967,000 after purchasing an additional 45,547 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of The PNC Financial Services Group in the third quarter worth about $28,766,000. National Bank of Canada FI grew its stake in shares of The PNC Financial Services Group by 23.1% in the third quarter. National Bank of Canada FI now owns 246,835 shares of the financial services provider’s stock worth $45,627,000 after purchasing an additional 46,324 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of The PNC Financial Services Group by 484.0% in the third quarter. iA Global Asset Management Inc. now owns 13,830 shares of the financial services provider’s stock worth $2,556,000 after purchasing an additional 11,462 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group by 37.4% in the third quarter. EP Wealth Advisors LLC now owns 5,119 shares of the financial services provider’s stock worth $946,000 after purchasing an additional 1,394 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on PNC shares. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Stephens lifted their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $195.84.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $208.63 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $139.19 and a twelve month high of $216.26. The firm has a market cap of $82.78 billion, a P/E ratio of 17.64, a PEG ratio of 2.18 and a beta of 1.15. The company has a 50 day moving average of $196.62 and a 200 day moving average of $178.41. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.60 EPS. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders 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 yield of 3.07%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction 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 transaction, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,788 shares of company stock worth $5,613,814. Insiders own 0.42% of the company’s stock.

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.