Nichols & Pratt Advisers LLP MA Has $872,000 Position in PNC Financial Services Group Inc (PNC)

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Nichols & Pratt Advisers LLP MA lowered its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,400 shares of the financial services provider’s stock after selling 600 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in PNC Financial Services Group were worth $872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Toronto Dominion Bank grew its stake in PNC Financial Services Group by 18.2% during the second quarter. Toronto Dominion Bank now owns 310,829 shares of the financial services provider’s stock worth $41,984,000 after buying an additional 47,843 shares during the last quarter. Cardinal Capital Management Inc. grew its stake in PNC Financial Services Group by 6.1% during the third quarter. Cardinal Capital Management Inc. now owns 69,510 shares of the financial services provider’s stock worth $9,467,000 after buying an additional 4,000 shares during the last quarter. Banque Pictet & Cie SA grew its stake in PNC Financial Services Group by 10.1% during the second quarter. Banque Pictet & Cie SA now owns 12,868 shares of the financial services provider’s stock worth $1,738,000 after buying an additional 1,183 shares during the last quarter. California Public Employees Retirement System grew its stake in PNC Financial Services Group by 0.4% during the second quarter. California Public Employees Retirement System now owns 1,311,395 shares of the financial services provider’s stock worth $177,169,000 after buying an additional 5,470 shares during the last quarter. Finally, Stephens Inc. AR grew its stake in PNC Financial Services Group by 21.2% during the second quarter. Stephens Inc. AR now owns 21,911 shares of the financial services provider’s stock worth $2,960,000 after buying an additional 3,828 shares during the last quarter. 79.84% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Robert Q. Reilly sold 24,710 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the transaction, the executive vice president now directly owns 131,020 shares in the company, valued at $18,406,999.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Several brokerages have weighed in on PNC. ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. UBS Group set a $137.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research note on Monday, October 15th. Nomura decreased their price objective on shares of PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. BMO Capital Markets decreased their price objective on shares of PNC Financial Services Group to $139.00 and set an “outperform” rating on the stock in a research note on Monday, October 15th. They noted that the move was a valuation call. Finally, Morgan Stanley decreased their price objective on shares of PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, October 15th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $155.50.

Shares of PNC stock opened at $131.76 on Wednesday. PNC Financial Services Group Inc has a 1 year low of $116.55 and a 1 year high of $163.59. The company has a market cap of $60.30 billion, a PE ratio of 15.50, a P/E/G ratio of 1.28 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.11.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the business earned $2.16 earnings per share. Research analysts predict that PNC Financial Services Group Inc will post 10.75 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Wednesday, October 17th were given a dividend of $0.95 per share. The ex-dividend date was Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.88%. PNC Financial Services Group’s payout ratio is 44.71%.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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