48,800 The PNC Financial Services Group, Inc $PNC Shares Sold by Payden & Rygel

Payden & Rygel decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 97.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,440 shares of the financial services provider’s stock after selling 48,800 shares during the quarter. Payden & Rygel’s holdings in The PNC Financial Services Group were worth $320,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in The PNC Financial Services Group during the second quarter worth approximately $7,921,455,000. State Street Corp raised its stake in The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock worth $4,538,929,000 after acquiring an additional 765,097 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of The PNC Financial Services Group during the second quarter worth $2,102,631,000. Deutsche Bank AG bought a new position in The PNC Financial Services Group in the second quarter valued at about $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of The PNC Financial Services Group by 1.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock worth $888,309,000 after purchasing an additional 39,112 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PNC shares. TD Cowen cut their price target on shares of The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Friday, October 16th. Evercore reduced their price target on shares of The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Raymond James Financial lowered their price target on shares of The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Oppenheimer raised their price target on shares of The PNC Financial Services Group from $263.00 to $269.00 and gave the company an “outperform” rating in a report on Friday, October 16th. Finally, UBS Group decreased their price objective on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.17.

Insider Activity at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 1.7%

Shares of NYSE:PNC opened at $227.88 on Friday. The stock has a market capitalization of $90.91 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.20 and a beta of 0.94. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $230.03 and a two-hundred day simple moving average of $228.88.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The business had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.35 EPS. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is currently 42.58%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.