SG Americas Securities LLC Sells 32,642 Shares of PNC Financial Services Group Inc (NYSE:PNC)

SG Americas Securities LLC trimmed its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 57.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,206 shares of the financial services provider’s stock after selling 32,642 shares during the quarter. SG Americas Securities LLC’s holdings in PNC Financial Services Group were worth $3,262,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of PNC Financial Services Group by 1.8% in the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock valued at $4,065,151,000 after purchasing an additional 589,235 shares in the last quarter. BlackRock Inc. raised its position in shares of PNC Financial Services Group by 1.3% in the second quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock valued at $3,430,820,000 after buying an additional 341,222 shares during the last quarter. FMR LLC raised its position in shares of PNC Financial Services Group by 13.9% in the second quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock valued at $1,957,539,000 after buying an additional 1,915,923 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of PNC Financial Services Group by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after buying an additional 875,164 shares during the last quarter. Finally, Capital World Investors raised its position in shares of PNC Financial Services Group by 6.9% in the second quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock valued at $1,262,761,000 after buying an additional 654,997 shares during the last quarter. Institutional investors and hedge funds own 81.57% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. BidaskClub lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of PNC Financial Services Group in a research report on Monday, October 16th. Credit Suisse Group upped their price target on shares of PNC Financial Services Group from $135.00 to $137.00 and gave the stock a “neutral” rating in a research report on Monday, October 16th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Tuesday, October 31st. Finally, Instinet reaffirmed a “neutral” rating and set a $132.00 price target (up previously from $129.00) on shares of PNC Financial Services Group in a research report on Saturday, September 30th. Sixteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $136.13.

PNC Financial Services Group Inc (PNC) traded up $0.58 during trading on Wednesday, hitting $143.01. 1,554,733 shares of the stock were exchanged, compared to its average volume of 2,196,882. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92. 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 market cap of $68,439.23, a P/E ratio of 17.56, a P/E/G ratio of 1.92 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the firm posted $1.84 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. equities analysts expect that PNC Financial Services Group Inc will post 8.44 EPS for the current year.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $135.00, for a total value of $675,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider E William Parsley III sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total transaction of $3,467,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,640 shares of company stock worth $5,901,852. Corporate insiders own 0.43% of the company’s stock.

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PNC Financial Services Group Company 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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