Citigroup Inc. Sells 36,831 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Citigroup Inc. cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 859,518 shares of the financial services provider’s stock after selling 36,831 shares during the quarter. Citigroup Inc. owned approximately 0.22% of The PNC Financial Services Group worth $158,882,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNC. Concurrent Investment Advisors LLC raised its stake in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new position in The PNC Financial Services Group in the third quarter valued at about $12,548,000. Bleakley Financial Group LLC grew its position in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $822,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $18,159,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $210.07 on Friday. The stock has a market cap of $83.35 billion, a P/E ratio of 17.76, a PEG ratio of 2.15 and a beta of 1.13. 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 business’s 50-day moving average price is $191.01 and its two-hundred day moving average price is $174.58. The PNC Financial Services Group, Inc. has a twelve month low of $127.15 and a twelve month high of $214.19.

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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the firm posted $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict 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 company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. 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 3.05%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the sale, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock worth $5,317,200 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PNC shares. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Barclays lifted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Bank of America upgraded shares of 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 note on Thursday, August 15th. Finally, Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $186.96.

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.