Anderson Hoagland & Co. Has $1.99 Million Holdings in PNC Financial Services Group Inc (PNC)

Anderson Hoagland & Co. lessened its stake in PNC Financial Services Group Inc (NYSE:PNC) by 22.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,540 shares of the financial services provider’s stock after selling 4,180 shares during the period. PNC Financial Services Group accounts for approximately 1.1% of Anderson Hoagland & Co.’s investment portfolio, making the stock its 25th largest holding. Anderson Hoagland & Co.’s holdings in PNC Financial Services Group were worth $1,992,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oakbrook Investments LLC purchased a new stake in shares of PNC Financial Services Group during the third quarter worth about $3,723,000. Aperio Group LLC lifted its holdings in shares of PNC Financial Services Group by 0.5% during the third quarter. Aperio Group LLC now owns 330,285 shares of the financial services provider’s stock worth $44,982,000 after purchasing an additional 1,595 shares during the period. Sitrin Capital Management LLC lifted its holdings in shares of PNC Financial Services Group by 2.2% during the third quarter. Sitrin Capital Management LLC now owns 31,290 shares of the financial services provider’s stock worth $4,261,000 after purchasing an additional 676 shares during the period. First American Bank acquired a new stake in shares of PNC Financial Services Group during the third quarter worth about $10,115,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of PNC Financial Services Group by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 218,931 shares of the financial services provider’s stock worth $29,816,000 after purchasing an additional 6,150 shares during the period. Institutional investors own 79.83% of the company’s stock.

Shares of PNC stock traded down $1.82 during trading hours on Thursday, hitting $125.51. 63,136 shares of the company’s stock were exchanged, compared to its average volume of 2,258,956. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market cap of $63.23 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.24 and a beta of 0.92. PNC Financial Services Group Inc has a fifty-two week low of $121.61 and a fifty-two week high of $163.59.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.09. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.32 billion. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. During the same period in the prior year, the company posted $2.16 EPS. Analysts anticipate that PNC Financial Services Group Inc will post 10.71 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Stockholders of record on Wednesday, October 17th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Tuesday, October 16th. PNC Financial Services Group’s payout ratio is 44.71%.

In other news, EVP Robert Q. Reilly sold 24,710 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the completion of the transaction, the executive vice president now directly owns 131,020 shares of the company’s stock, valued at approximately $18,406,999.80. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

PNC has been the subject of a number of research reports. Sanford C. Bernstein raised PNC Financial Services Group from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $158.00 to $145.00 in a report on Monday. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, October 12th. BMO Capital Markets decreased their target price on PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a report on Monday. They noted that the move was a valuation call. Nomura decreased their target price on PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating for the company in a report on Monday. Finally, UBS Group set a $137.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $154.62.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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