USS Investment Management Ltd Has $16.16 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

USS Investment Management Ltd decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,333 shares of the financial services provider’s stock after selling 6,555 shares during the period. USS Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $16,159,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PNC. Versor Investments LP grew its stake in shares of The PNC Financial Services Group by 29.4% in the first quarter. Versor Investments LP now owns 4,012 shares of the financial services provider’s stock worth $740,000 after acquiring an additional 912 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of The PNC Financial Services Group by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 639,098 shares of the financial services provider’s stock worth $117,882,000 after purchasing an additional 23,879 shares during the period. Gladstone Institutional Advisory LLC raised its position in shares of The PNC Financial Services Group by 1.9% during the first quarter. Gladstone Institutional Advisory LLC now owns 7,951 shares of the financial services provider’s stock valued at $1,467,000 after buying an additional 148 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of The PNC Financial Services Group by 25.3% in the first quarter. Stephens Inc. AR now owns 51,133 shares of the financial services provider’s stock valued at $9,431,000 after buying an additional 10,320 shares during the period. Finally, Prospera Financial Services Inc grew its position in The PNC Financial Services Group by 106.9% during the first quarter. Prospera Financial Services Inc now owns 17,155 shares of the financial services provider’s stock worth $3,165,000 after buying an additional 8,862 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Compass Point decreased their price objective on The PNC Financial Services Group to $160.00 in a report on Thursday, October 20th. StockNews.com started coverage on shares of The PNC Financial Services Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $162.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, October 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating for the company in a report on Monday, September 12th. Finally, JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $191.00 to $171.50 in a research note on Tuesday, October 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $188.56.

Insiders Place Their Bets

In related news, EVP Guild Deborah sold 2,833 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $159.66, for a total value of $452,316.78. Following the completion of the transaction, the executive vice president now directly owns 20,527 shares in the company, valued at approximately $3,277,340.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9 %

Shares of NYSE:PNC traded up $1.52 during mid-day trading on Thursday, reaching $166.50. The stock had a trading volume of 1,278,166 shares, compared to its average volume of 2,263,517. The firm has a 50 day simple moving average of $157.37 and a two-hundred day simple moving average of $160.93. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $228.14. The firm has a market cap of $67.15 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.17.

The PNC Financial Services Group (NYSE:PNCGet Rating) last posted its earnings results on Friday, October 14th. The financial services provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.09. The PNC Financial Services Group had a net margin of 26.96% and a return on equity of 12.45%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business posted $3.75 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 14.43 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, November 5th. Shareholders of record on Monday, October 17th were paid a $1.50 dividend. The ex-dividend date was Friday, October 14th. This represents a $6.00 dividend on an annualized basis and a yield of 3.60%. The PNC Financial Services Group’s payout ratio is 45.25%.

The PNC Financial Services Group Profile

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

Further Reading

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

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