Riggs Asset Managment Co. Inc. Sells 250 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Riggs Asset Managment Co. Inc. decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 57.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185 shares of the financial services provider’s stock after selling 250 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in The PNC Financial Services Group were worth $34,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Capital International Investors boosted its holdings in The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after purchasing an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in The PNC Financial Services Group by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after acquiring an additional 18,397 shares during the last quarter. Legal & General Group Plc lifted its stake in The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after acquiring an additional 223,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in The PNC Financial Services Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after acquiring an additional 100,993 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in The PNC Financial Services Group by 24.1% in the second 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 during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $185.82 on Monday. The company has a fifty day moving average of $182.56 and a 200-day moving average of $168.28. The firm has a market capitalization of $73.94 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14. 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, Inc. has a twelve month low of $110.79 and a twelve month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 company 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 PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Evercore ISI increased their price objective on shares of 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. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Finally, Stephens raised their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock 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 assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $185.71.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,279 shares of company stock worth $4,395,540. 0.42% of the stock is owned by corporate 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.