Standard Life Aberdeen plc Reduces Position in PNC Financial Services Group Inc (NYSE:PNC)

Standard Life Aberdeen plc trimmed its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 215,110 shares of the financial services provider’s stock after selling 8,693 shares during the quarter. Standard Life Aberdeen plc’s holdings in PNC Financial Services Group were worth $34,338,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PNC. Cypress Capital Group increased its holdings in shares of PNC Financial Services Group by 0.8% in the 4th quarter. Cypress Capital Group now owns 8,069 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 66 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in PNC Financial Services Group by 3.7% in the fourth quarter. Wedbush Securities Inc. now owns 1,976 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 71 shares during the period. Moody Lynn & Lieberson LLC increased its stake in PNC Financial Services Group by 2.7% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,743 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 71 shares during the last quarter. Quest Capital Management Inc. ADV increased its stake in PNC Financial Services Group by 2.0% during the fourth quarter. Quest Capital Management Inc. ADV now owns 3,599 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 71 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. raised its holdings in shares of PNC Financial Services Group by 0.7% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 10,870 shares of the financial services provider’s stock worth $1,736,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 82.60% of the company’s stock.

In related news, Director Andrew T. Feldstein bought 10,535 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $94.92 per share, for a total transaction of $999,982.20. Following the transaction, the director now directly owns 53,158 shares of the company’s stock, valued at approximately $5,045,757.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles E. Bunch bought 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $153.11 per share, for a total transaction of $153,110.00. Following the purchase, the director now owns 4,781 shares in the company, valued at approximately $732,018.91. The disclosure for this purchase can be found here. Insiders have bought 21,302 shares of company stock worth $2,153,135 over the last three months. Corporate insiders own 0.30% of the company’s stock.

A number of research firms have recently issued reports on PNC. UBS Group reduced their price target on shares of PNC Financial Services Group from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Barclays reissued a “hold” rating and issued a $181.00 price target on shares of PNC Financial Services Group in a report on Tuesday, January 7th. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research report on Thursday, February 27th. Nomura restated a “hold” rating and set a $155.00 price objective on shares of PNC Financial Services Group in a research note on Monday, January 27th. Finally, Wells Fargo & Co raised PNC Financial Services Group from an “equal weight” rating to an “overweight” rating and set a $110.00 target price on the stock in a research report on Thursday, March 19th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $149.73.

PNC stock traded up $10.87 on Thursday, reaching $102.92. The company’s stock had a trading volume of 3,735,554 shares, compared to its average volume of 2,845,113. PNC Financial Services Group Inc has a 52 week low of $79.41 and a 52 week high of $161.79. The company has a market capitalization of $38.66 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19. The firm has a fifty day moving average of $127.85 and a two-hundred day moving average of $144.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.89 and a quick ratio of 0.88.

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 consensus estimate of $2.92 by $0.05. PNC Financial Services Group had a return on equity of 10.91% and a net margin of 24.83%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the previous year, the business earned $2.75 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts expect that PNC Financial Services Group Inc will post 11.47 EPS for the current fiscal year.

PNC Financial Services Group Company 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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