King Luther Capital Management Corp Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

King Luther Capital Management Corp decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 43.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,968 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. King Luther Capital Management Corp’s holdings in The PNC Financial Services Group were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Cornerstone Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 1.5% in the 3rd quarter. Cornerstone Advisors LLC now owns 20,200 shares of the financial services provider’s stock worth $3,734,000 after acquiring an additional 300 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in The PNC Financial Services Group by 1.1% in the third quarter. Citizens Financial Group Inc. RI now owns 16,354 shares of the financial services provider’s stock worth $3,023,000 after purchasing an additional 185 shares during the last quarter. Altman Advisors Inc. boosted its position in The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares during the period. First Horizon Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 79.0% during the third quarter. First Horizon Advisors Inc. now owns 11,670 shares of the financial services provider’s stock valued at $2,157,000 after buying an additional 5,150 shares during the last quarter. Finally, Commerce Bank increased its holdings in shares of The PNC Financial Services Group by 16.1% in the third quarter. Commerce Bank now owns 61,320 shares of the financial services provider’s stock worth $11,335,000 after buying an additional 8,494 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Morgan Stanley upped their price target 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. 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 report on Wednesday, October 16th. Evercore ISI upped 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 note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. 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. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $186.96.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,317,200 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $210.07 on Friday. 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 company has a market cap of $83.35 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The stock has a fifty day simple moving average of $191.01 and a two-hundred day simple moving average of $174.71. The PNC Financial Services Group, Inc. has a 12-month low of $127.15 and a 12-month high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the business earned $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.05%. The PNC Financial Services Group’s payout ratio 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.