JB Capital LLC Decreases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

JB Capital LLC reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,879 shares of the financial services provider’s stock after selling 275 shares during the period. The PNC Financial Services Group makes up about 0.8% of JB Capital LLC’s holdings, making the stock its 20th biggest holding. JB Capital LLC’s holdings in The PNC Financial Services Group were worth $14,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norden Group LLC raised its holdings in The PNC Financial Services Group by 52.6% in the first quarter. Norden Group LLC now owns 2,630 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 907 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of The PNC Financial Services Group by 5.6% in the 1st quarter. Nordea Investment Management AB now owns 29,619 shares of the financial services provider’s stock valued at $4,779,000 after purchasing an additional 1,564 shares in the last quarter. Duality Advisers LP lifted its position in shares of The PNC Financial Services Group by 108.5% during the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after purchasing an additional 10,743 shares during the last quarter. Empirical Finance LLC grew its stake in The PNC Financial Services Group by 3.4% in the first quarter. Empirical Finance LLC now owns 14,801 shares of the financial services provider’s stock worth $2,392,000 after purchasing an additional 489 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in The PNC Financial Services Group by 2.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 37,512 shares of the financial services provider’s stock valued at $6,062,000 after buying an additional 810 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

PNC stock traded down $1.82 during trading on Thursday, hitting $203.15. The company had a trading volume of 248,349 shares, compared to its average volume of 1,853,713. The firm has a market capitalization of $80.61 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.98 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The business has a 50 day moving average of $184.75 and a 200 day moving average of $170.42. The PNC Financial Services Group, Inc. has a fifty-two week low of $118.56 and a fifty-two week high of $205.06.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.60 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now owns 557,185 shares in the company, valued at approximately $95,724,383. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,521 shares of company stock worth $2,653,950 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PNC. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. UBS Group raised their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays boosted their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $185.71.

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.