King Luther Capital Management Corp Sells 1,500 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

King Luther Capital Management Corp trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 43.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,968 shares of the financial services provider’s stock after selling 1,500 shares during the period. King Luther Capital Management Corp’s holdings in The PNC Financial Services Group were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after purchasing an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in The PNC Financial Services Group by 160.9% during the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after buying an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in The PNC Financial Services Group by 152.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after buying an additional 276,200 shares during the last quarter. Hsbc Holdings PLC lifted its stake in The PNC Financial Services Group by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after acquiring an additional 262,654 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after acquiring an additional 254,356 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNC shares. Keefe, Bruyette & Woods raised their price target 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. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Stephens raised their target price 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 analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $186.96.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the transaction, the chief executive officer now directly owns 536,249 shares in the company, valued at $111,604,141.88. The trade was a 0.23 % 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, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,546 shares of company stock valued at $5,317,200. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $210.07 on Friday. The stock has a fifty day moving average of $191.01 and a 200-day moving average of $174.71. The stock has a market cap of $83.35 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.15 and a fifty-two week high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.60 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given 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 3.05%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

About The PNC Financial Services Group

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.