The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Eaton Vance Management

Eaton Vance Management reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 35.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,685 shares of the financial services provider’s stock after selling 400,413 shares during the quarter. Eaton Vance Management’s holdings in The PNC Financial Services Group were worth $130,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Vantage Consulting Group Inc acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $27,000. Better Money Decisions LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at about $28,000. Alpha DNA Investment Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $41,000. Finally, Grant Street Asset Management Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $43,000. 81.39% of the stock is owned by institutional investors.

A number of equities analysts have recently commented on the company. Citigroup boosted their price objective on The PNC Financial Services Group from $179.00 to $210.00 in a research report on Tuesday, April 20th. Argus boosted their price objective on The PNC Financial Services Group from $173.00 to $203.00 and gave the stock a “buy” rating in a research report on Monday, April 19th. Raymond James raised The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Monday, May 10th. Compass Point boosted their price objective on The PNC Financial Services Group from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 18th. Finally, Wolfe Research raised The PNC Financial Services Group from an “underperform” rating to an “outperform” rating and upped their price target for the company from $194.00 to $252.00 in a report on Friday, July 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $184.16.

The PNC Financial Services Group stock opened at $184.87 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $78.54 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.48 and a beta of 1.39. The PNC Financial Services Group, Inc. has a fifty-two week low of $101.58 and a fifty-two week high of $203.88. The firm has a fifty day moving average price of $190.22.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.34). The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.40 billion. The PNC Financial Services Group had a net margin of 32.72% and a return on equity of 12.53%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $8.40 EPS. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 14.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 5th. Investors of record on Friday, July 16th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, July 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.15. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 78.62%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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