PNC Financial Services Group Inc (PNC) Position Cut by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its stake in PNC Financial Services Group Inc (NYSE:PNC) by 3.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,842,012 shares of the financial services provider’s stock after selling 61,353 shares during the period. Neuberger Berman Group LLC owned 0.39% of PNC Financial Services Group worth $248,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Capital One National Association boosted its position in shares of PNC Financial Services Group by 11.8% during the 2nd quarter. Capital One National Association now owns 15,071 shares of the financial services provider’s stock valued at $1,882,000 after purchasing an additional 1,585 shares in the last quarter. Perkins Coie Trust Co boosted its position in shares of PNC Financial Services Group by 0.9% during the 2nd quarter. Perkins Coie Trust Co now owns 22,507 shares of the financial services provider’s stock valued at $2,810,000 after purchasing an additional 197 shares in the last quarter. Atria Investments LLC bought a new position in shares of PNC Financial Services Group during the 2nd quarter valued at about $412,000. Iberiabank Corp boosted its position in shares of PNC Financial Services Group by 9.2% during the 2nd quarter. Iberiabank Corp now owns 16,488 shares of the financial services provider’s stock valued at $2,059,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in shares of PNC Financial Services Group by 0.5% during the 2nd quarter. Private Trust Co. NA now owns 11,517 shares of the financial services provider’s stock valued at $1,438,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.

PNC Financial Services Group Inc (PNC) traded up $2.56 during midday trading on Wednesday, hitting $145.85. 2,145,100 shares of the stock were exchanged, compared to its average volume of 2,191,382. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $68,177.53, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. PNC Financial Services Group Inc has a 1-year low of $112.61 and a 1-year high of $146.24.

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 analysts’ consensus estimates of $2.13 by $0.03. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. equities research analysts predict that PNC Financial Services Group Inc will post 8.44 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada restated a “buy” rating on shares of PNC Financial Services Group in a research report on Monday, October 16th. Credit Suisse Group raised their price objective on shares of PNC Financial Services Group from $135.00 to $137.00 and gave the company a “neutral” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Tuesday, October 31st. Instinet reiterated a “neutral” rating and issued a $132.00 target price (up from $129.00) on shares of PNC Financial Services Group in a report on Saturday, September 30th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $134.00 target price on shares of PNC Financial Services Group in a report on Wednesday, October 4th. Sixteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $136.13.

In other news, 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 value of $625,519.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. Insiders sold 88,947 shares of company stock valued at $12,543,665 over the last three months. 0.43% of the stock is owned by insiders.

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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.

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

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