Prospector Partners LLC Sells 2,800 Shares of PNC Financial Services Group Inc (PNC)

Prospector Partners LLC decreased its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,600 shares of the financial services provider’s stock after selling 2,800 shares during the quarter. PNC Financial Services Group accounts for approximately 3.0% of Prospector Partners LLC’s investment portfolio, making the stock its 3rd largest position. Prospector Partners LLC’s holdings in PNC Financial Services Group were worth $20,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Quadrant Capital Group LLC raised its stake in PNC Financial Services Group by 0.3% during the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 4 shares in the last quarter. Hudock Capital Group LLC raised its stake in PNC Financial Services Group by 0.4% during the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 11 shares in the last quarter. Telemus Capital LLC raised its stake in PNC Financial Services Group by 0.3% during the second quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 16 shares in the last quarter. Green Square Capital LLC raised its stake in PNC Financial Services Group by 0.4% during the second quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 18 shares in the last quarter. Finally, Abner Herrman & Brock LLC raised its stake in PNC Financial Services Group by 0.7% during the second quarter. Abner Herrman & Brock LLC now owns 2,899 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 20 shares in the last quarter. 81.57% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on PNC shares. Robert W. Baird reissued a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group in a research note on Monday, August 28th. Zacks Investment Research raised PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Tuesday, September 5th. Piper Jaffray Companies reissued a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group in a research note on Sunday, August 27th. Nomura boosted their target price on PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Finally, Wells Fargo & Company set a $135.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Thursday, October 19th. Sixteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $136.13.

PNC Financial Services Group Inc (PNC) traded up $0.58 during trading on Thursday, hitting $143.01. The stock had a trading volume of 1,554,700 shares, compared to its average volume of 2,197,134. PNC Financial Services Group Inc has a one year low of $110.97 and a one year high of $145.66. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $67,768.34, a P/E ratio of 17.39, a P/E/G ratio of 1.90 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. equities research analysts predict that PNC Financial Services Group Inc will post 8.44 EPS for the current fiscal year.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $140.98, for a total transaction of $704,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlando C. Esposito sold 4,505 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $138.85, for a total transaction of $625,519.25. The disclosure for this sale can be found here. Insiders have sold a total of 42,640 shares of company stock valued at $5,901,852 in the last three months. Insiders own 0.43% of the company’s stock.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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