USS Investment Management Ltd Has $19.93 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

USS Investment Management Ltd trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.8% during the fourth quarter, Holdings Channel reports. The firm owned 103,260 shares of the financial services provider’s stock after selling 11,157 shares during the quarter. USS Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $19,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ameritas Advisory Services LLC lifted its stake in The PNC Financial Services Group by 73.7% in the fourth quarter. Ameritas Advisory Services LLC now owns 3,889 shares of the financial services provider’s stock valued at $750,000 after buying an additional 1,650 shares during the period. Aaron Wealth Advisors LLC grew its position in shares of The PNC Financial Services Group by 14.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,598 shares of the financial services provider’s stock worth $308,000 after buying an additional 202 shares during the period. City Holding Co. increased its stake in shares of The PNC Financial Services Group by 6.6% in the 4th quarter. City Holding Co. now owns 2,132 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 132 shares in the last quarter. UMB Bank n.a. lifted its position in shares of The PNC Financial Services Group by 0.5% during the 4th quarter. UMB Bank n.a. now owns 14,804 shares of the financial services provider’s stock valued at $2,855,000 after acquiring an additional 76 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 10.0% during the fourth quarter. Amplius Wealth Advisors LLC now owns 1,325 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PNC shares. Barclays decreased their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Finally, TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a “buy” rating and a $233.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

The PNC Financial Services Group Stock Down 0.7%

Shares of NYSE:PNC opened at $177.36 on Wednesday. The business’s 50 day moving average is $165.19 and its 200 day moving average is $186.07. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The stock has a market cap of $70.16 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 45.20%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $179.14, for a total transaction of $222,491.88. Following the completion of the sale, the chief executive officer now directly owns 556,121 shares of the company’s stock, valued at approximately $99,623,515.94. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,638 shares of company stock valued at $3,012,095 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

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.