The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,709 shares of the financial services provider’s stock after selling 25,671 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of The PNC Financial Services Group worth $26,527,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL raised its holdings in shares of The PNC Financial Services Group by 0.5% in the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock valued at $3,135,000 after buying an additional 89 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of The PNC Financial Services Group by 12.0% in the first quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 1,724 shares during the period. Covestor Ltd raised its stake in shares of The PNC Financial Services Group by 68.8% during the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 137 shares during the last quarter. West Family Investments Inc. lifted its holdings in shares of The PNC Financial Services Group by 9.1% during the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 97 shares during the period. Finally, Ergoteles LLC grew its position in The PNC Financial Services Group by 137.9% in the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after buying an additional 12,201 shares during the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several analyst reports. StockNews.com downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Bank of America upgraded The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 10th. Morgan Stanley lowered their price target on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 3rd. Finally, HSBC initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $150.99.

The PNC Financial Services Group Trading Up 0.1 %

Shares of The PNC Financial Services Group stock opened at $130.34 on Tuesday. The firm has a market cap of $51.92 billion, a PE ratio of 9.05, a P/E/G ratio of 1.15 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $170.27. The business’s fifty day moving average is $120.50 and its two-hundred day moving average is $123.00.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm posted $3.78 EPS. The company’s revenue was down 5.7% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.86 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.03%.

About The PNC Financial Services Group

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 segments. 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.