Machina Capital S.A.S. Cuts Stake in The PNC Financial Services Group, Inc $PNC

Machina Capital S.A.S. lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,551 shares of the financial services provider’s stock after selling 2,366 shares during the quarter. The PNC Financial Services Group makes up approximately 1.0% of Machina Capital S.A.S.’s portfolio, making the stock its 11th biggest position. Machina Capital S.A.S.’s holdings in The PNC Financial Services Group were worth $4,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PNC. Brighton Jones LLC boosted its stake in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 24.4% during the first quarter. OneDigital Investment Advisors LLC now owns 8,240 shares of the financial services provider’s stock valued at $1,448,000 after purchasing an additional 1,616 shares during the period. Brookstone Capital Management boosted its stake in shares of The PNC Financial Services Group by 4.2% during the first quarter. Brookstone Capital Management now owns 16,041 shares of the financial services provider’s stock valued at $2,819,000 after purchasing an additional 647 shares during the period. Strategic Blueprint LLC boosted its stake in shares of The PNC Financial Services Group by 1.8% during the first quarter. Strategic Blueprint LLC now owns 6,066 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 110 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in shares of The PNC Financial Services Group by 3.6% during the first quarter. Impax Asset Management Group plc now owns 5,763 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 198 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group raised their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Raymond James Financial raised their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $182.66 on Monday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day moving average price of $195.95 and a 200-day moving average price of $186.29. The company has a market capitalization of $71.93 billion, a PE ratio of 11.80, a PEG ratio of 1.26 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the company earned $3.49 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

The PNC Financial Services Group 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 segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time 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.