Rampart Investment Management Company LLC Decreases Holdings in PNC Financial Services Group Inc (NYSE:PNC)

Rampart Investment Management Company LLC cut its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 59.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,816 shares of the financial services provider’s stock after selling 8,361 shares during the quarter. Rampart Investment Management Company LLC’s holdings in PNC Financial Services Group were worth $798,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PNC. Thoroughbred Financial Services LLC increased its position in shares of PNC Financial Services Group by 13,808.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock valued at $188,593,000 after purchasing an additional 1,872,373 shares during the last quarter. FMR LLC grew its stake in shares of PNC Financial Services Group by 3.8% during the 1st quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock worth $1,382,040,000 after acquiring an additional 407,250 shares during the period. Hexavest Inc. bought a new position in shares of PNC Financial Services Group during the 2nd quarter worth $53,247,000. American Century Companies Inc. grew its stake in shares of PNC Financial Services Group by 8.9% during the 1st quarter. American Century Companies Inc. now owns 4,353,354 shares of the financial services provider’s stock worth $533,982,000 after acquiring an additional 357,041 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of PNC Financial Services Group by 487.1% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 359,548 shares of the financial services provider’s stock worth $49,359,000 after acquiring an additional 298,302 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Charles E. Bunch bought 1,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $124.38 per share, for a total transaction of $124,380.00. Following the purchase, the director now directly owns 3,781 shares in the company, valued at $470,280.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 17,132 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $135.11, for a total value of $2,314,704.52. Following the completion of the transaction, the chief executive officer now owns 507,979 shares of the company’s stock, valued at approximately $68,633,042.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,374 shares of company stock valued at $22,168,172. 0.37% of the stock is owned by corporate insiders.

NYSE PNC traded up $0.62 during trading hours on Thursday, hitting $141.82. The company had a trading volume of 62,541 shares, compared to its average volume of 1,853,469. PNC Financial Services Group Inc has a 52 week low of $108.45 and a 52 week high of $145.30. The firm has a 50 day simple moving average of $131.65 and a 200 day simple moving average of $132.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $62.56 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.83 and a beta of 1.11.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company earned $2.72 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts forecast that PNC Financial Services Group Inc will post 11.26 earnings per share for the current year.

Several research analysts have recently weighed in on PNC shares. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Robert W. Baird set a $141.00 price target on PNC Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Morgan Stanley set a $141.00 price target on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $143.22.

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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