Nisa Investment Advisors LLC Has $32.51 Million Position in PNC Financial Services Group Inc (NYSE:PNC)

Nisa Investment Advisors LLC cut its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 203,636 shares of the financial services provider’s stock after selling 12,404 shares during the period. Nisa Investment Advisors LLC’s holdings in PNC Financial Services Group were worth $32,506,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Smith Asset Management Group LP grew its position in PNC Financial Services Group by 508.5% during the second quarter. Smith Asset Management Group LP now owns 359 shares of the financial services provider’s stock worth $49,000 after buying an additional 300 shares in the last quarter. Lido Advisors LLC bought a new stake in shares of PNC Financial Services Group in the 2nd quarter worth approximately $267,000. Cohen & Steers Inc. grew its holdings in shares of PNC Financial Services Group by 47.0% during the 2nd quarter. Cohen & Steers Inc. now owns 4,719 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 1,509 shares in the last quarter. Capital Bank & Trust Co grew its holdings in shares of PNC Financial Services Group by 40.5% during the 2nd quarter. Capital Bank & Trust Co now owns 35,177 shares of the financial services provider’s stock worth $4,796,000 after purchasing an additional 10,135 shares in the last quarter. Finally, Man Group plc lifted its position in PNC Financial Services Group by 15.0% in the second quarter. Man Group plc now owns 203,781 shares of the financial services provider’s stock worth $27,976,000 after purchasing an additional 26,639 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Several brokerages have issued reports on PNC. Wells Fargo & Co boosted their price target on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. UBS Group reduced their price objective on shares of PNC Financial Services Group from $157.00 to $154.00 and set a “neutral” rating for the company in a report on Friday. Morgan Stanley upped their target price on shares of PNC Financial Services Group from $160.00 to $162.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Wednesday, January 8th. Finally, ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. PNC Financial Services Group has an average rating of “Hold” and an average price target of $154.57.

In related news, EVP Joseph E. Rockey sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,550,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 129,400 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $152.10, for a total transaction of $19,681,740.00. Following the completion of the transaction, the chief executive officer now owns 370,790 shares in the company, valued at $56,397,159. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,623 shares of company stock valued at $28,044,817. 0.37% of the stock is currently owned by corporate insiders.

NYSE PNC traded up $0.75 during trading hours on Friday, reaching $153.37. 115,820 shares of the company’s stock were exchanged, compared to its average volume of 2,359,490. The firm has a fifty day moving average of $157.49 and a 200-day moving average of $144.31. PNC Financial Services Group Inc has a one year low of $118.70 and a one year high of $161.79. The stock has a market cap of $71.19 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.10.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $2.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.05. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.48 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $2.75 earnings per share. As a group, research analysts forecast that PNC Financial Services Group Inc will post 11.34 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Friday, January 17th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, January 16th. This represents a $4.60 annualized dividend and a dividend yield of 3.00%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.95%.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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